Question: Explain the following terms (In Accounting): - Trustor -Devise -General Legacy -Trustee

Explain the following terms (In Accounting):

- Trustor

-Devise

-General Legacy

-Trustee

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Explain the following terms - Trustor -Devise -General Legacy -Trustee

Q:

1. Kumar and Jyothi have a partnership business. The position of their firm as on March 31 2016 and 2015 is given in the financial statements given below. You are required to prepare comparative...

Q:

Hari and Hannah were in partnership trading under the name 'Hana Traders' and sharing profits and losses in the ratio of 1:3 respectively. On 31 December 2004, a winding up petition was lodged...

Q:

1. Of the accounts receivable. Sh.9 million is estimated to be good while Sh.1 million is estimated to be bad. 50% of the remaining debts are expected to be paid. 2. The preferential accounts...

Q:

tackle all parts 1. The diagram below shows a firm operating under conditions of perfect competition in the short run. Price (a) What is represented by the lines numbered 1 to 3? Use the answer box...

Q:

Question 2 Donkey Company Limited (DCL) is an outdoor advertising company registered in Uganda. DCL has billboards at Entebbe airport, in Kampala, and throughout the major towns of Uganda with its...

Q:

Kindly provide original answers QUESTION ONE a) Give four merits of using a flowchart to record an accounting system. (4 marks) b) Explain how an Internal Control Evaluation Questionnaire (ICEQ)...

Q:

Question 2 (a) Jeremiah and Nehemiah are in a partnership trading as JENE Enterprises majorly dealing in building materials. At the end of the financial year (31 December, 2015), Jeremiah's current...

Q:

Answer the questions below Question 5 (a) Afande Towabasi, a VAT registered taxpayer made the following transactions for the month of March, 2018: Purchases: Goods worth Shs 16,900,000 VAT inclusive....

Q:

Answer the questions below Question 5 (a) Afande Towabasi, a VAT registered taxpayer made the following transactions for the month of March, 2018: Purchases: Goods worth Shs 16,900,000 VAT inclusive....

Q:

Crawford Enterprises started the 2013 accounting period with $75,000 of assets (all cash), $15,000 of liabilities, and $25,000 of common stock . During the year, Crawford earned cash revenues of...

Q:

Define the concept of organisational mission and explain a mission statement's purpose. Think of an organisation you would like to establish. What type of mission would you develop?

Q:

MHA543 What are the best and worst traits of leaders you have worked with? How did these traits affect your productivity and engagement? Which is more important for leading people: knowledge of the...

Q:

On January 1, 2007 Lynch Company acquired 13% bonds with a face value of $50,000. The bonds pay interest on June 30 and December 31 and mature on December 31, 2009. Lynch Company paid $51,229.35, a...

Q:

Top executive officers of Preston Company, a merchandising firm, are preparing the next years budget. The controller has provided everyone with the current years projected income statement. Current...

Q:

Healey Development Company has two competing projects: an office building and a condominium complex. Both projects have an initial investment of $2,000,000. The net cash flows estimated for the two...

Q:

Colorado Grill has computed the net present value for capital expenditures for the Denver and Boulder locations using the net present value method. Relevant data related to the computation are as...

Q:

Develop a linear regression equation to predict future demand from the following data: a. Write the regression equation. b. Predict demand for 2015. c. Name the independent variable. d. Name the...

Q:

H&C Corporation is preparing an aggregate production plan for Opti-Mist for the next four months. The company's expected monthly demand is given in the following chart. The company will have 50 units...

Q:

2. In this chapter, the reader should reflect on the following concepts:

Q:

1. To provide an understanding that a person in a communication situation conveys three things at the same time: their position, basic interests and values.

Q:

4. What is meant by the statement: We are extremely limited in our willingness to allow others to put their own case in a social situation?.