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SECRET TRUSTS The initial basis of the doctrine of secret trusts was the refusal of equity to permit a statute to be used as an engine of fraud (e.g. Bannister v Bannister). Cer
The following facts pertain to a noncancelable lease agreement between Lennox Leasing Company and Gill Company, a lessee. Inception date: May 1, 2012 Annual lease payment due at th
1. Describe the approach Zetar Plc uses to determine goodwill impairment losses. How does this approach differ from US GAAP? 2. Zetar Plc does not report any research and develo
Partners F and G receive an interest allowance of $10,000 and $15,000, respectively, and divide the remaining profits and losses in a 3:1 ratio. If the company sustained a net loss
LIMITATIONS O F FINANCIAL ACCOUNTING 1. Simply transactions which can be calculated in terms of money can be recorded in the books of accounts. Actions, though important t
Loan stock in subsidiary The holding company may also invest in the loan stock of the subsidiary company or part of the loan stock of the subsidiary company. The cost of the loa
XYZ Inc., an Ontario-based company on the cutting edge of technology, is analyzing the possibility of providing university-level courses for York University. This virtual universit
What do you mean by base case NPV?
Company A subsequently sells 60% of the voting interest in Company S for $900,000. The fair value of Company A's retained interest of 10% in the voting stock in Company S is $120,0
When Lydia started her vending machine business, she instituted flexible budgeting for the first few months of operations. Her first monthly budget numbers were these: Cost of g
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