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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.
Q. Show Advantages of financial intermediation? The advantages of financial intermediation are as follows Investors are able to pool their funds in a bank deposit account to
XYZ Company is a large manufacturer of auto parts for the auto manufacturers and parts distributors. XYZ has plants throughout the world, but most are located in North America. XYZ
Application Information The application must include information as to: The full name of the deceased; The death and place of his death; Whether or not the decease
Your firm has been hired to examine the financial statements of Bonanza Development Corp. for possible irregularities. As part of this task, you reviewed certain land transactions
Assume that it is now January 1, 2012. XYZ Inc. has developed a solar panel capable of generating 200% more electricity than any other solar panel currently on the market. As a res
redemption of debentures by sinking fund method
normative and positive
Corporation Tax This is the tax payable by companies on their trading activities of a given financial period. The standard doesn’t give the guidelines on how this tax should be
On January 1, a company issued and sold a $400,000, 7%, 10-year bong payable, and recieved proceeds of $396,000. Interest is payable each June 30 and December 31. The company uses
Day Corporation purchased a patent on January 1, 2012 for $360,000. The patent had a useful life of 10 years at that date. In January of 2013, Day successfully defends the patent a
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