What is law of Indemnity? Explain the rights and duties of indemnifier and indemnity holder with appropriate examples.

Q: what is the major difference and the major similarity between the vested benefit obligation and the…

A: Explain the similarities and the differences between Projected Benefit Obligation and Accumulated…

Q: What do the allowable deductions include?

A: Tax: Tax refers to a compulsory payment or a contribution to the state revenue, levied by the…

Q: Explain how the obligation for postretirement benefits is measured and how the obligation changes.

A: The answer for this question is given generally as each organisations can following their own…

Q: Compensation income may be in the form of monetary or in-kind benefit. a.true b.false

A:

Q: Describe the Rights of the Surety.

A: A surety is a person or entity that takes on the risk of another party defaulting on their debts or…

Q: Explain the purpose of damages as a remedy for breach of contract in our law. Also explain how…

A: The purpose of contract remedies is, for the most part, to compensate the non-breaching party for…

Q: circumstances where the agent is granted compensation ?

A: The agents are appointed to perform or execute the functions on behalf of the principles, their…

Q: Which are the Borrower’s Rights to Reinstate?

A: The person that takes something from another person with a promise to return back at a specified…

Q: Explain the term Right of Entry: Lender in Possession?

A: The question is based on the concept of giving right of entry in case of mortgage arrangement in…

Q: What is the vested benefit obligation?

A: Pension Obligation: It refers to the commitment provided by the employer to pay its employees, the…

Q: What is meant by “right of return”? “Bill and hold”?

A: Financial accounting standards board (FASB): This is the organization which creates, develops, and…

Q: what is a deed how is it different from the title?

A: A deed is a document that represents the right of transfer of ownership or right transfer from one…

Q: In what way is compensation similar to payment? Explain each by giving examples or cases that you…

A: Compensation :  It a payment given in exchange of services.  It is a form of a payment. It can only…

Q: Direct Compensation coverage.

A: The determinants of direct financial compensation can be classified into two categories, external…

Q: One of the main differences between U.S. GAAP and IAS/IFRS is the measurement of property, plant &…

A: Definition: IAS 16 deals provide a framework for the accounting treatment of property plant and…

Q: What is nonpecuniary benefits?

A: The benefits which are not in monetary form are called as Non Pecuniary benefits. The notion that…

Q: Distinguish a contigent liability from a provision.

A: Liabilities: It refers to the debt that company owes to someone. It can be short term or long term.

Q: Required information [The following information applies to the questions displayed below.] Jeremy…

A: Taxable Income is the net amount of income on which tax is imposed or determined using appropriate…

Q: Explain the rights of a creditor against a surety and the rights of a surety, including those of a…

A: Surety bond used to involve the promise through the one party by assuming the responsibilities…

Q: How are deductions and losses different? How are they similar? Explain

A: Deductions: As deductions, the existing expenses made for the development of current period profits…

Q: Determine the components of postretirement benefit expense

A: Post-retirement benefit expense:   This is an expense to the employer-paid as compensation after the…

Q: What are the issues involved in determining if signing a bonus is an asset or an expense?

A: Accounting is primarily concerned with identifying, recording, measuring, summarizing transactions…

Q: ompensation income may be in the form of monetary or in-kind benefit. TRUE OR FALSE?

A: Compensation means the amount a company give to its employees for services rendered.