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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.
Q. Show example of Internal rate of return? IRR (Internal rate of return) is a discounted cash flow investment appraisal method that calculates the discount rate which causes th
Prepare a master budget You have just been hired as a new management trainee by XYZ Limited, a distributor of earrings to various retail outlets located in shopping malls acro
The non current asset section of Aadil & Co. at December 31, 2005 is as under:- Land Rs. 1,000,000 Office equipment Rs. 5,000,000 Less: accumulated depreciation 250,000 4,75
During 2011, Lavina Corporation had cash and credit sales of $94,000 and $91,000, respectively. The company also collected accounts receivable of $53,400 and incurred expenses of $
Investment of accumulated income The income accumulations must be invested from time to time and the investments earmarked as being on Accumulations Account. The income aris
Requirements: Part I Access the IFRS and the Generally Accepted Accounting Principles (GAAP) of your country. a. Note ten differences between the two sets of GAAP. Part II Ac
Q. What is Lifetime Learning Credit? Lifetime Learning Credit - This allows a credit for 20 percent of qualified tuition and fees paid by taxpayer with respect to one or more s
GOODWILL This is defined as “the difference between the value of a business as a whole and the fair value of its net separable assets”. Goodwill in practical sense is the advant
1.Assume that Abel business corporation is purchasing new equipment, for 350,000$ at the beginning of 2014. Assume that Abel business corporation is in the 30% corporate tax bracke
Suppose a company will issue new 25-year debt with a par value of $1,000 and a coupon rate of 8%, paid annually. The tax rate is 40%. If the flotation cost is 3% of the issue proce
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