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Trust - Ancient legal practice where one person (GRANTOR) transfers the legal title to an ASSET, known as principal or corpus, to another person (the TRUSTEE), with specific instructions about how the corpus is to be disposed and managed.
1 The entry establishing a $175 petty cash fund would include a: a) debit to cash for $175 b) credit to Petty cash for $175 c) debit to petty cash for $175 d) debit to miscellaneou
Ademption If property which has been specifically bequeathed does not belong to the testator at the time of his death, or has been converted into property of a different kind,
Accounting Policies These financial statements have been prepared under the historical cost basis of accounting which is modified to accommodate the revaluation of certain proper
Accounting objectives Accounting has two main objectives: To assist control over the assets and liabilities, and the income and expenditure of the enterprise; and To
Effect of Transactions on Cash Flows State the effect (cash receipt or payment and amount) of each of the following transactions, considered individually, on cash flows: 1. Sold e
Important points for holding company with subsidiary The following points are important: 1) The first approach is to determine the effective shareholding by the holding compan
#Hi! would you mind to help me? is there such an accounting term as Withholding Tax Payable??? please help me.. thanks
Olivia has received a $15 gift certificate that is redeemable only for roasted peanuts. Bags of roasted peanuts come in two sizes, regular and jumbo. A regular bag contains 30 pean
The office building was bought in January 1, 2011 and was originally planned to be used for 40 years and had no salvage value. It is depreciated on a straight line basis. Now in
Q. Determine the indicated market price per share? Your company's share is quoted in the market at Rs.20 Presently. The company pays a dividend of Rs.1 per share and the invest
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