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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:
Circumstances under which a subsidiary company can be excluded from consolidation Consolidated financial statements shall include all subsidiaries of the parent A parent need
In common terms the present value of a regular annuity may be shown as given below: PVNn = A/(1 + k) + A/(1 + k) 2 + ..................+ A/(1 + k) N = A (1/(1 + k) + 1/(
effects of technology in banking sector
Prepare a cash budget The following information appeared on the balance sheet of XYZ Ltd at 30 June 2012: Accounts receivable
The office building was bought in January 1, 2011 and was originally planned to be used for 40 years and had no salvage value. It is depreciated on a straight line basis. Now in
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Fakari had the following asset at the ending of the year 2013 having started the business at the beginning of the same year. Ksh.000 Account payable 15,800 equipment 46,000
Characteristics of a will 1) Dispositionary: A will disposes the deceased’s property. 2) Formality: For a will to be valid, it must be written and signed by the d
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