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LIQUIDATION OF COMPANIES(a) Methods of Winding Up:
A company may be wound up:By the court, Voluntarily, either as a members' or a creditors' winding up; or Subject to the supervision of court.Grounds for compulsory winding up:A company may be wound up by the court under s.219 if:The company so resolves by special resolution, The number of members fall below seven, or two if a private company tetc.
Persons Who May Petition:A petition may be presented by any of the following: A Creditor, A Contributory, The Official, The Company Receiver.The Petition:
The petition must be in the prescribed form and verified by affidavit, and must be advertised in the Gazette and a local paper seven clear business days before the hearing. Interim Liquidator:
An application to the court for such an appointment (usually of the O.R.) may be made at any time between presentation and hearing, especially if the assets are in jeopardy s.235: he takes control of all the company's property and no legal proceedings can thereafter be begun or continued against the company without leave of the court s.228.
Investment of accumulated income The income accumulations must be invested from time to time and the investments earmarked as being on Accumulations Account. The income aris
Choice of an appropriate discount rate The difficulty with selecting a discount rate rests on whether the correct rate for the risk/return has been derived. A number of things
WHAT IS PPE?
Go to your assigned corporation's website and access their latest annual report. Answer the following questions regarding their derivative and foreign currency transactions. 1.
Q. What do you mean by Issuer? Issuer - This term means an issuer, securities of which are registered under Section 12 of Securities Exchange Act of 1934, or that is essential
As a borrower, which of the following two 30 year, monthly payment loans would you choose (and why) if you had a 10 year expected payment horizon: 5% interest rate with 3.5 points,
Rockland Corporation earned net income of $346,500 in 2012 and had 100,000 shares of common stock outstanding throughout the year. Also outstanding all year was $924,000 of 10% bon
1-Dec $92,000.00 of 5% bonds are purchased with check. Interest is paid once a year and will mature in 5 years. The market yield for these bonds is 4%.
Retained Earnings had a beginning balance of $2,758,000 and an ending balance of $3,885,700. Total revenues for the year were 3,790,800. During the year 130,300 in dividends were d
what is non-current asset
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