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EXECUTORSHIP
Executorship is the body of statute law, case law and practice concerning the management of the estate of a deceased person. In what follows, we shall express the law as applying to a masculine person, but it applies equally to women, whether married or not.
When a person dies, he dies:-(a) TESTATE — he leaves a valid will, which disposes of all his free property (i.e the property of which he was legally competent to dispose during his lifetime, and in respect of which his interest does not terminate by his death) OR (b) INTESTATE — he does not leave a valid will, or the will does not dispose of all his free property.Since the vast majority of people in Kenya die intestate i.e. without leaving a will, we will deal with this situation first.
Describe:-1. Compare the American Institute of CPAs' (AICPA) Statements on Tax Standards (SSTS) and the Treasury Department Circular 230 rules to practice before the Internal Reven
what type of transaction is a service revenue earned on account? a) asset source, b) asset use, c) asset exchange or d) claims exchange?
FORMAT FOR BALANCE SHEET The non current assets, current assets and current liabilities sections remain identical to those of a sole proprietorship. However, the “capital sect
Q. Dividends in arrears on cumulative preferred stock a. are shown in stockholders' equity of the balance sheet. b. must be paid before common stockholders can receive a dividend.
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what is the reason of incorporating 1. corporate governance statement 2. audit committee statement 3. internal audit statement into annual reports?
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what are the concept of economic substance over legal form under accounting for lease?
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