New zealand companies act

Assignment Help Financial Accounting

Reference no: EM133209425

Question

Based on the New Zealand Companies Act, what are the criteria for a company to be considered solvent? What is the responsibility of the directors regarding a company's solvency and what action do they need to take when they declare a dividend? What is the consequence should a company not be solvent when directors declare a dividend?

Reference no: EM133209425

Questions Cloud

Confused between property taxes and income taxes : An income tax couple is confused between property taxes and income taxes and asks you, their accountant, to explain the difference to them.

Define compensating variation and equivalent variation : Define Compensating Variation and Equivalent Variation and show how they related. Which one is the appropriate measure of the "value of life" in risky project.

Explain why segmental information is required in company : Explain why segmental information is required in company accounts. What approach is required by the current IASB standard in this area?

What is cost of goods sold for fiscal year : From the perspective of the group consisting of John Ltd and Tyler Ltd, what is the cost of goods sold for the fiscal year ended 30 June 2022?

New zealand companies act : Based on the New Zealand Companies Act, what are the criteria for a company to be considered solvent?

Statement assertion in different levels : Discuss each financial statement assertion in different levels. What are the different level of financial statements assertions that we consider in Audit?

Explain purpose and major contents of engagement : Explain the purpose and major contents of an engagement letter between the auditor and their client.

Net income or net loss : How to use an "if statement" to calculate and display the words "Net Income" or "Net Loss".

Rate of markdown on the demonstrator unit : What is the regular rate of markup on cost? What is the rate of markdown on the demonstrator unit?

User Account

All Pages