Meetings of creditors Study guides, Study notes & Summaries

QUESTION 1 1.1 Discuss the meaning of the term “ubuntu”. Ubuntu is an African indigenous philosophy that is the measure of human behaviour. It is the ideal to live life selflessly and to make sacrifices for others who, in turn, will live selflessly. It places the well-being of the individual in all transactions. It is similar to the audi alteram partem rule, which means that both sides of the story must be heard. Ubuntu is attributed to co...

Peregrine Exam Review Day 1 Questions with 100% Correct Answers Balance Sheet Analysis - answerAnalysis of assets, liabilities, and equity Annually or quarterly Helpful for investors, bankers and brokers Compliance in Accounting - answerSarbanes act was created in 2002 to protect shareholders What are dividends? - answera sum of money paid regularly by a company to its shareholders out of its profits _ can be allocated as fixed amount per share - answerDividends Dividends - answercan o...

PARTNERSHIPS: What is a partnership? s.1(1) Partnership Act 1890 Partnership = persons carrying on business with a view to profit. – May form a partnership irrespective of contrary intention. A partnership is formed once the definition is satisfied, not when a decision to form a partnership is made. Existence of partnerships: s.1(1) PA 1890 No formality is needed to establish a partnership so a partnership can be formed without the specific intent of the parties to form one. s.2(3) ...

Auditing Practice Exam 98 Questions with Verified Answers 1) An accountant: A) must possess expertise in the accumulation of audit evidence. B) must decide the number and types of items to test. C) must have an understanding of the principles and rules that provide the basis for preparing the accounting information. D) must be a CPA. - CORRECT ANSWER C The two major factors affecting acceptable audit risk are: A) inherent risk and the intended uses of the financial statements B) co...

What is the term of office for a notary public? - ANSWER_The commission is issued without expiration and is in force and effect for as long as notary remains qualified What crimes can a notary public be prosecuted for official misconduct? - ANSWER_Malfeasance in office Bribery or corrupt influence Injuring public records Filing false public records Forgery Unauthorized exercise of notarial powers When will a notary's commission be suspended by operation of law? - ANSWER_Failure to ma...

misfeasance - Answer Preforming a legal action in an improper way malfeasance - Answer Doing of an act in an improper, wrongful, or unlawful manner. Public works always malfeasance. nonfeasance - Answer Failure to act when one should, a kind of tort malpractice - Answer A failure of a professional to act in accordance with the acceptable course of conduct, negligence of a member of a profession in a professional capacity censure - Answer Issue a formal condemnation. admonition - A...

person's The terms sequestration and sequestration order should stritly be used only with reference to a ____ estate personal In Ex Parte Henning, the statement of affairs that lay for inspection did not contain the ____ information 8(g) According to section ____ of the Insolvency Act, it is an act of insolvency if a debtor gives notice in writing to a creditor that he is unable to pay one or more of his debts written A debtor may not, without the ____ consent of the tr...

#2024 Corporate Finance Exam 2 Correct Answers Included Q. Under the stakeholder theory, corporate governance is most consistent with a system of: internal controls and procedures by which individual companies are managed. defined roles for management and the majority shareowner(s). checks and balances to minimize the conflicting interests among shareowners. *Ans* A is correct. Corporate governance is the system of internal controls and procedures by which individual companies are mana...

Encouraging the expression of feelings as well as facts and following up with employees on the problems they report are two ways that managers and supervisors can A. Cultivate two-way communication. B. Facilitate active listening. C. Support diverse groups. D. Maintain control of the conversation. - Answer- A. Cultivate two-way communication. Before speaking with a group or individual, the speaker should think about what he or she wants the other person(s) to do as a result of the convers...

AUE2601 EXAM PACK. This is a com0lete and an all-inclusive guide to AUE2601 - Auditing Theory And Practice The need for Auditing Services Jackson & Stent Chapter 1 ISA 200 – Objectives and general principles governing an audit ISA 610 International Framework for Assurance Engagements External auditors – express an independent opinion if the AFS’s of a company fairly present the financial position and results of the company’s operations. NOT an employee of the company. Basically en...