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There is no generally accepted definition of a trust, although many have attempted. Underhill defines a trust as"an equitable obligation binding a person (who is called a trustee) to deal with property over which he has control (which is called the trust property) for the benefit of the persons (who are called the beneficiaries ......) of whom he may himself be one, and any one of whom may enforce the obligation".
Q. Business risk in company? Business risk is the likelihood of a company experiencing changes in the level of its profit before interest as a result of changes in turnover or
Liquidity Ratios - These ratios include the Current Ratio and the Quick Ratio or the acid test ratio. Liquidity ratios show the Liquid position of a company in the short term i.e
1. Assume that the money market is initially in equilibrium for an economy. Explain with the aid of a diagram how the market adjusts to (i) an increase in money supply (ii
Inventory control implies a planned approach of ascertaining while to buy, how much to buy and how much to stock hence costs including storing and buying are optimally minimum, wit
Q. Show benefits of factoring? Factor finance The factoring company will progress up to 80% of the face value of invoices raised. This would permit Doe Ltd to pay its trad
Q. What do you mean by Operating Agreement? Operating Agreement - Agreement, generally a written document which sets out the rules by which a LIMITED LIABILITY COMPANY (LLC) is
Significant Findings or Issues - Substantive matters which are vital to procedures performed, conclusions reached or evidence obtained and include though aren't limited to: 1.
Q. What is Completion Report? The object of a completion report is to compare the cost of work actually constructed with those provided for in the last sanctioned estimate. A com
a. Explain a major factor which led to the introduction of International Financial Reporting Standards (IFRS). b. Explain how users of financial information benefit from IFRS.
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