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Effect of disclaimer The trustee may disclaim onerous property consisting of: Land burdened with onerous covenants; Stocks and shares; Unprofitable contracts, or
Agreements to settle property The trustee is not bound by such an agreement if it remains executory. If property has already been settled, the trustee can recover it unless it
Q. Explain about Material event? Subsequent Event - Material event which takes place after the end of accounting period and before the publication of an entity's FINANCIAL STAT
what is the treatment of increase in allowance receivable.
Dillings Ltd is a wholesaler and distributor of catering of office equipment. The following list of balances was extracted from its books at 31 March 2004: 1428_Prepare the Income
Q. Show the Basis of weightings? (i) Both costs of capital (Ke and Kd) as well as the WACC have been calculated using current ex-dividend (ex-interest) market values rather t
Simon Corporation's bonds have 12 years left over to maturity. Interest is paid yearly, the bonds have a $1,000 par value, and the coupon interest rate is 11.5%. The bonds have a y
1.) The Garcia Company's bonds have a face value of $1000, will mature in ten years, and carry a coupon rate of 16 percent. Assume interest rates are made semi-annually. A.) Det
Analytical Procedures - Substantive tests of financial information that examine relationships among data as a means of obtaining evidence. Such procedures include: (1) comparison o
Explain the term Reporting interval - Management accounting For most businesses, financial accounting reports are produced on an annual basis, though some large businesses prod
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