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Balance sheet:
S.148(2) utilize the directors to prepare and lay before the company in simple meeting a balance sheet as at the date to such that the profit and loss account, or the income and expenditure account, is made up.
By s.155(1) the balance sheet shall be signed on behalf of the board by two of the directors of the company, or whether there is only one director, through that director.
By s.155(4) if any balance sheet is not signed as required but a copy is issued, circulated or published, the company and every officer who is in default shall be liable to a fine not exceeding one thousand shillings.
Unsecured trade creditors: It refers to a "class" of members or of creditors. Obviously if two or more companies are involved or if one company has two classes of shares, eg.
An employee at the supermarket you manage mopped one of the aisles in the store and placed signs at the ends of the aisle to warn people not to use the aisle until the floor dried.
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What are the rights and duties of a principal
Winding-Up: (a) A company is dissolved, i.e. ceases to exist, when its name is removed from the register. It is usually necessary, before it can be dissolved, to liquida
Fraud or improper conduct: English courts have intervened on numerous occasions and lifted the veil of incorporation in order to circumvent a fraudulent or improper design by
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