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To observe terms of trust Trustees must comply with the trust instrument and the rules of equity; they need not consult the beneficiaries or take instructions from them; but they may not depart from the terms of the trust unless authorised by the court, either: 1. Where a particular transaction is expedient for the trust as a whole, but the trustees have no power to effect it S.56; or
2. Under the Trustee Act, which empowers the Court to sanction any agreement for varying or revoking all or any of the trusts, or enlarging the management and administration powers of trustees on behalf of beneficiaries who are, as yet, unascertained or who are under a disability such as infancy.
Develop a paper that explains the emerging role of international financial reporting standards and how it affects your particular organization. Your paper should assess the adequac
Fund accounting and preparation of financial statements) The scenario: At the start of the year beginning January 1, 2013, Coco City's General Fund had a cash balance of $40,000, v
EXECUTORS' ACCOUNTS (a) Stewardship : The main object or preparing Estate Accounts is to record the assets which have been entrusted to the "stewards" — the executors — and
Suppose that the Fed buys $1 million of bonds from the First National Bank. If the First National Bank and all other banks use the resulting increase in reserves to purchases bonds
Simon Corporation's bonds have 12 years left over to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 11.5%. The bonds have a y
tyoes of assets
Q.2 Explain different methods of costing. Your answer should be studded with examples (preferably firm name and product) for each method of costing.
Disclaimer The liquidator may disclaim onerous property consisting of: 1. Land burdened with onerous covenants; 2. Stocks and shares; 3. Unprofitable contracts, or 4.
Dillings Ltd is a wholesaler and distributor of catering of office equipment. The following list of balances was extracted from its books at 31 March 2004: The following ad
Significant Deficiency -Control deficiency or combination of control deficiencies, which adversely affects company's ability to authorize, initiate, process, record or report exte
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