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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:
Exceptions to the rule of lapse There is no lapse in either of the following cases: 1. Where the gift or disposition is made in discharge of a moral obligation recognised by t
a company is evaluating a project requiring capital expenditure of 620,000. estimated life of project is four years and no salvage value. estimated net income and net cash flow fro
Analyse the limitations of using a periodic inventory system and provide examples to support your view. essay type
1. You can buy any quantity of cooking oil at $5 per litre and any quantity of flour at $2 per kilo. You have allocated $20 to spend on cooking oil and flour. (a) If you choo
Define why country in rigorous recession reflect on devaluation? Countries can deal with the both internal problems with external solutions. Why might a country in rigorous rec
the following information relates to Thomas limited who decide to commence business on 01 January 2016 with R375000 cash: what is his budget for February, march, April?
brigham problems
According to the FASB, the usefulness of accounting is judged by which of the following two qualitative characteristics of accounting information? Comparability and neutrality Unde
Question 1 The following information should be used for questions #1 through #7: Jersies, Inc financial statement data. 2009 2010
how to prepare
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