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SURVIVORSHIP POLICY
The partners may take out a survivorship policy to safeguard against future cashflow problems incase a partner dies or the business is dissolved. E.g. incase a partner dies, then the remaining partners may wish to continue business but they may experience cashflow problems because they have to pay the estate of the deceased partner.On dissolution, again the partners may not be able to sell off all the assets on time and thus pay off the creditors.Therefore, under a survivorship policy the insurance will pay the partners the sum assured on the death of a partner or the surrender value when the policy is terminated because the business is being dissolved.The premiums paid on such a policy may be treated in several ways:
Q. Stock dividends and stock splits have the following effects on retained earnings: Stock Splits Stock Dividends a. Increase No change b. No change Decrease c. Decrease Decrease d
a company recorded for the past year a sales of 500,000 and an operating incme of 40,000. What is the turnover needed to earn in order to achieve an ROI of 20%
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Q. Illustrate Accounting ramifications? Accounting ramifications i) Restatement ii) Unable to file on timely basis while go back and determine what periods are effected
A company purchased 16 million shares (representing an 80% controlling interest) in another company on 1 July 2010. The terms of the purchase were as follows: 1 share in
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I have an assignment in consolidation accounting and would like to know if you can assist me in doing the assignment for me. I am doing BA in Accounting . Please let me know. Re
You are an analyst in the corporate finance department of Pet Products, Inc. You have been asked to analyze a potential new product to be introduced. The beef-flavored water will b
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What information goes on each sheet of an Articulationof statements, i.e. the Data Entry sheet, the Trial Balance sheet, the Single step Income statement, multi-step income stateme
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