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Trust
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".
what is the implication of applying accounting concept wrongly
discuss the content of financial statement with reference to Indian companies?
Accounts of trustees The trustee must keep proper books of account, which may be inspected by the creditors at any time. The cash book must be audited by the committee of insp
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