The fiduciary duties of partners have been incorporated into which sections of the Partnership Act 1958 (Vic)? A) Sections 32 to 34. OB) Sections 28 to 30. OC) Sections 16 and 17. D) Sections 5 and 6.
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- Companies A and B differ only in their capital structure. A is financed 30% debt and 70% equity: B is financed 10% debt and 90% equity. The debt of both companies is risk-free. a. Rosencrantz owns 1% of the common stock of A. What other investment package would produce identical cash flow for Rosencrantz? b. Guildenstern owns 2% of common stock of B. What other investment package would produce identical cash flows for Guildenstern?Explain when it is suitable to use Cost Plus Reimbursable Contract?Subject: acounting
- What happens if the pledgor defaults on their obligations in a pledge agreement? What remedies are available to the pledgee?Fiona, Celine and Donna have recently commenced a business together making custard pies using the name 'FCD's Custard Pies' as their trading name. They also sell coffee and soft drinks. Only Donna has put capital into the business, and no formal agreement exists between them. However, on many occasions Fiona has purchased stock for the business from their various suppliers by using her own money, and she has also set up an account with the suppliers in the name of 'FCD's Custard Pies'. Celine also has often placed orders on behalf of the business with their various suppliers for stock. 00:0 At their next meeting Fiona suggests selling alcoholic beverages. Donna likes the idea, but Celine does not. Celine says that such a change would require renovation of the shop, and also obtaining a licence to sell alcohol. This requires an application to the relevant government authority, which may reject the application. After giving it lots of thought, Donna decides to leave the business in two…What are the two exceptions to the general rule that an entity should allocate the transaction price based on the relative standalone selling price? Are the percentage-of completion and the completed contract methods both viable alternatives for a given contract Explain Does aggregating the five components of pension cost always result in a reduction in income? Do corporations report the projected benefit obligation and the plan assets as individual accounts on the sponsor corporation’s balance sheet?
- Virgin Financial Services Pty Ltd (Virgin) is a recently incorporated company that you assisted Virginia and Richard in establishing to run a financial planning business. The company does not have their own Australian Financial Services license but is a corporate authorised representative of MLC Ltd. The directors of the Virgin are: Virginia (the MD) and Richard Both have had several years of financial planning and accounting experiences and in the last 4 years they both focused on being financial advisers. Richard is aware that taxation is an important issue in financial planning and has become registered as a recognised tax adviser as well. Both have a good understanding of the legal requirements involved in advising clients. They were individual clients of the firm for many years and now that they have started up a new business they come to you for advice on the following issues: Recently the Government established a review on the quality of advice called the Quality of Advice…What are the two types of transfers in taxation? Describe each and give their classifications.b. With relevant examples, explain the following; i. Primary appointment and secondary apportionment ii. Direct cost and indirect cost (