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RESOLUTIONS OF CREDITORS
Normally, decisions at meetings of creditors are taken by ordinary resolution, viz., a resolution passed by a simple majority in value of creditors present, personally or by proxy, and voting on the resolution.A special resolution, viz., a resolution passed by a simple majority in number and three-fourths in value of the creditors present and voting, is required:(a) To appoint a trustee other than the Official Receiver in a small bankruptcy;(b) To make an allowance to the bankrupt in a form other than money;(c) To require the Official Receiver to remove a special manager.
explain the terms recording,classifying,summarizing and communicating
Accounting concepts The word 'Accounting Concept' is used to denote necessary assumptions and ideas which are basic to accounting practice. The variety of accounting concepts i
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The forecast income statements are as follows: WORKINGS Sales = 50000 × 1·12 = $56000000 Variable cost of sales = 30000 × 1·12 × 0·85 = $28560000 Fixed cost of sa
Investors need a 15% rate of return on Brooks Sisters' stock (rs = 15%). a. What would the value of Brooks's stock be if the last dividend was D0 = $1.5 and if investors expect
1. How can a flexible budget help managers control costs? A flexible budget can help managers control costs by showing favorable and unfavorable variances within the planning o
Ask quwhats taxtonomy of intermediaries estion #Minimum 100 words accepted#
A Valid Will A will may be made: Orally; it will not be valid unless: 1. It is made before two or more competent witnesses (i.e. persons of sound mind and full age); and 2.
International Accounting Standards Committee, the (IASC) - is an independent private sector body, formed in 1973, with objective of harmonizing the accounting principles that are u
Suppose you get a cash bonus of Rs.1, 00,000 that you deposit in a bank that pays 10 % annual interest. How much can you withdraw yearly for a period of 10 years? Solution :
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