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Trustee's duties in administering the D of A1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of A.
2) To pay all creditors equally unless the D of A gives priority to those debts which would be preferential in bankruptcy (as it usually will)?Note that since the B.A does not apply to the D of A, rules such as those relating to disclaimer of onerous property, reputed ownership and voidable settlements are inapplicable.
CONVERSION INTO A COMPANY The partners may convert their business and trade in form of a company. This may be due to some of the advantages a company has over a partnership. E.g.
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
After all events have been recorded, Lang's obligations to creditors represents what percent of total assets? a).record the events under an accounting equation b. After all e
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?
During it's first year of operations, Rosa Corp has these transactions pertaining to its common stock. Jan. 10 Issued 30,000 shares for cash at $5 per share July 1 Issued 60,000 sh
Define the term- How are businesses organised Nearly all businesses which involve more than a few owners and/or employees are set up as limited companies. This means that finan
Effect of Resolution The consequences of the resolution to wind up are: 1) The company must cease to carry on its business except so far as is necessary for the beneficial win
Various types of accounting changes can affect the financial statements of a business enterprise differently. Assume that the following list describes changes that have a material
provide 5% for doubtful debt what is the journal entry
Q. What are the Organization Expenditures? Organization Expenditures -Costs of organizing a business or trade or for profit activity before it begins active business. A taxpaye
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