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Time for disclaimer
The trustee may disclaim in writing at any time within twelve months of his appointment, or of becoming aware of the property, or such extended period as the court may allow.This right is lost if a person interested in the property applies in writing for him to decide whether he will disclaim or not; in this case the trustee must give notice of disclaimer within 28 days of receiving the application, unless the court extends the time.The court's consent is not required to the disclaimer except in the case of certain leases.
As a recently hired accountant for a small business, Bearing, Inc., you are provided with last year's balance sheet, income statement, and post-closing trial balance to familiarize
Determine about the accounting information Numerous user groups have an interest in accounting information relating to a business. Majority of these are outside the business ho
The city of Fredericton operates automobile parking facilities and is evaluating a proposal to erect and operate a structure for parking in the city's downtown area. 2 designs for
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Q. What do you mean by Re - organization? Reorganization - This is a change in businesses capital arrangements. If for a CORPORATION there are 7 statutory options for reorganiz
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Resulting trusts Resulting trusts occur where equity regards the property which is held by a trustee as belonging in equity to the person who transferred it to, or caused it to
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Contribution and indemnity Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although
Determine the Various forms of business organizations There are various forms of business organizations: o Business-organization's objective is to earn a profit o Sole Pr
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