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Remedies available to beneficiary
1) Injunction - to prevent unauthorised action by trustees;
2) Personal action - a trustee is only liable for his own acts and defaults, and not for those of an agent or co-trustee unless these take place with his knowledge or by reason of his own "wilful defaults" (re Munton).
If a trustee commits a breach of trust he must -
3) Criminal liability for fraudulently converting trust property.
Question : The subsequent data pertain to a shop. The owner has made following sales forecasts for the first 5 months of the coming year.
1. What cost flow assumption does the company use to value inventories? 2. What was the amount of expense that the company reported for inventory write-downs during 2011? 3
You are the auditor of a small private company called XYZ Limited. Last year, which was 20X9, the audit went smoothly and every balance on the financial statements was correct. Thi
5 accounting techniques
National Association of State Boards of Accountancy - serves as a forum for 54 State Boards of Accountancy, that administer the uniform CPA examination, license Certified Public Ac
Derivation of Formulas i) Future Value of an Annuity Future value of an annuity is FVA n = A(1 + k) n -1 + A (1 + k) n - 2 + .......A (1 + k) + A ............
SMALL BANKRUPTCIES The court may order the estate of a debtor to be administered summarily, if the debtor's assets are not likely to exceed Shs 12,000 in value. This is known
how to identify deb who to credit and who to debit
In the NPV analysis, sunk cost is not relevant whereas opportunity cost is for project evaluation. Requirements: Describe and justify the above statement about sunk cost an
The following information was taken from the ledger of Jefferson Industries, Inc.: Direct labor $85,000 Administrative expenses $59,0
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