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PROTECTIVE TRUSTS
The income of property may be settled on such terms as to restrict its availability to creditors of the beneficiary in the following ways:(a) Determinable interests:In this case the interest of the beneficiary ceases on alienation or bankruptcy. Note that a person cannot settle property on himself until bankruptcy since this would defeat the claims of his creditors.
(b) Discretionary trusts:In this case the trustees have a complete discretion whether to pay the income to the beneficiary or not.
(c) Protective trustsIf income is settled on "protective trusts", this operates to give –
Should Touring Enterprises consider liabilities as a part of its permanent financing? Why or why not?n #Minimum 100 words accepted#
Open "Hoyle CPA: Earnings Per Share." Under "Free Questions" select "Financial Accounting & Reporting."
Q. What is Capitalized Interest? Capitalized Interest - INTEREST cost incurred during time required to bring an ASSET tothe condition and location for its intended use and incl
equity share capital rs 10 200 10% preference share capital 80 15% debenture 20 profit before interest and taxes 60 proposed dividend 20 provision fo
Q. Explain briefly the role of computers in accounting? Computers can be used as accounting machines and perform all the functions which accounting machines perform. Some of th
question 5 chapter 5
If you inherited $45,000 today and invested all of it in a security that paid a 7 percent rate of return, how much would you have in 25 years?
Q. Participation of Employees in Management? To facilitate meaningful and effective participation of workers in the management process it was decided in March 1994 that the Cor
Trustee's duties in administering the D of A 1) To carry out the trusts of the D of A and to distribute the property assigned to him in accordance with the provisions of the D of
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
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