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RESOLUTIONS OF CREDITORS
Normally, decisions at meetings of creditors are taken by ordinary resolution, viz., a resolution passed by a simple majority in value of creditors present, personally or by proxy, and voting on the resolution.A special resolution, viz., a resolution passed by a simple majority in number and three-fourths in value of the creditors present and voting, is required:(a) To appoint a trustee other than the Official Receiver in a small bankruptcy;(b) To make an allowance to the bankrupt in a form other than money;(c) To require the Official Receiver to remove a special manager.
Find the current value of the following ordinary annuities. (Notes: If you are using a financial calculator, you can enter the known values and then press the appropriate key to se
Foley Corporation has the following capital structure at the beginning of the year: 6% Preferred stock, $50 par value, 20,000 shares authorized, 6,000 shares issued and outstanding
following are the amounts of the assets and liabilities of St. Kitts Travel Agency at December 31, 2010, the end of the current year, and its revenue and expenses for the year. The
Illustrations of Changes in accounting estimates B Ltd., bought an item of plant at a total cost of £100,000. The estimated useful life commencing from 1st January 2000 was 10
Lenders' evaluation: Current Assets to Current Liabilities, Quick Assets that is current assets minus inventories to Current Liabilities, Long term Debt to Net Assets, to
State the role of Accounting information Accounting information has a significant role to play in reporting the extent to which different groups have benefited from the busines
Powers of investment 1. Shares and debentures: A trustee may: Invest in bearer securities if these would otherwise be authorised; Acquiesce in an amalgamation
1. A stock sells for $10 a share. you purchase 100 shares for $1000 and after a year, the prices rises to $17.50. What will be the percentage of return on your investment if you bo
Uniform Accountancy Act (UAA) - UAA is the proposal for a new regulatory framework for the public accounting profession that was developed jointly by the American Institute of Cer
You own a two-bond portfolio. Each has a par value of $1,000. Bond A matures in five years, has a coupon rate of 8 percent, and has an annual yield to maturity of 9.20 percent. Bon
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