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Quasi-Reorganization - Type of reorganization in that, with shareholder approval, management revalue ASSETS and eliminates DEFICIT (increased by asset devaluations if any) by charging it to other EQUITY accounts without creation of a new corporate entity or without court intervention.
Dangers of over-reliance on trade credit In effect for the reason that trade credit represents temporary borrowing from suppliers until invoices are paid it becomes an importan
TYPES OF GIFT BY WAY OF A WILL (a) A special (or specific) legacy is a testamentary gift of a particular part of the property of the testator, which identifies that part by a s
The functional currency method (formerly temporal method) Under this method, the branch is considered to be an extension of the head office and this is reflected by the trading
If I bought a 10 year bond five years ago for 936.05. The bons make semiannual coupon payments at a rate of 8.4%. If the current price of the bonds is 1,048.77, what is the yield e
tutorials on sample qustion
Half secret trusts In this type of trust the will states that the gift is on trust, but the name of the beneficiary is not specified. Since the existence of a trust is disclose
is net sales an asset
You have the following limited information upon which to base your decision as to which is the better of two alternative funding arrangements: Alternative 1 is to arrange fun
A classmate is considering dropping his or her accounting class because he or she cannot understand the rules of debits and credits. Explain the rules of debits and credits in a wa
“Ledger is said to be the principal book entry and the transactions can even be directly entered into the ledger account.” Elaborate and explain why journal is necessary.
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