Distinguish between an intended beneficiary and an incidental beneficiary.

Q: compensation in commodatum.

A: Commodatum is nothing but a roman law which states that commodatum is an agreement which is a type…

Q: How to Use Compound Interest Factors for Annuities

A: Compound interest factor for annuities is used to compute the present and future value of annuities,…

Q: Is recover compensation within? compensation Inco ne ontion from in uranoe

A: Recovery compensation refers to the recover or regain through the agency of government against all…

Q: What is meant by a taxpayer's 'preservation age' and a 'condition of release', why are these…

A: Here discuss about some term related with the taxpayers which are important to get avail the…

Q: Why is a statement of functional expenses required of a voluntary health and welfare entity?

A: Expenses: Expenses are costs incurred for the operations of a business. The costs incurred for…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: Types of Trusts?

A: The types of trusts as follows: Living trust: One of the usually shaped trust is an inter vivos…

Q: What are the responsibilities of the executor of an estate?

A: Anyone can be an executor. It is usually one of the nominees or the person benefitting from the…

Q: Define Charitable remainder trust.

A: Trust: Trust is normally created by the decent person that establishes a trust that holds the…

Q: how do i calculate the goodwill and the charitable contribution?

A: Charitable contribution is the contribution which has been made by the company during the year and…

Q: Explain the benefits of postretirement.

A: Post-retirement benefits may include life insurance  and medical plans, or premiums for such…

Q: Define defined benefit plan

A: A defined-benefit plan is a business supported retirement plan in which representative advantages…

Q: Explain the meaning of Estate.

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: Distinguish between tangible and intangible benefits.

A:

Q: The child and dependent care provisions?

A: Definition: Tax credit: Tax credit refers to the money which tax payers can subtract from the taxes…

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: carry the right to a fund recorded in th How should the pre answer. Your answer to this

A: Firstly, let us understand who fund Managers and preference shares are. Fund Managers are investment…

Q: Direct Compensation coverage.

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

Q: How does a devise differ from a legacy? Choose the correct.a. A devise is a gift of money and a…

A:

Q: Which of the following are the rights of agents: A Right of subsidy; right of support B Right of…

A:

Q: What are the benefits of Trust fund

A: A trust fund is that legal entity that holds property on behalf of someone.

Q: Define Donated Assets.

A: Donated assets are the assets donated to governmental or non profit entity without any consideration…

Q: What is the role of trusts in estate planning?

A: The process of managing the assets of an individual or an organization until the death of the…

Q: The payment of legacies by an estate must follow an order of priority that requires general legacies…

A: The payment of legacies by an estate need not follow an order of priority that requires general…

Q: A charitable trust is used to split assets between surviving spouse and the trust. True or False

A: Charitable Trust The purpose of forming the charitable trust to person wish to set apart his portion…

Q: Explain Transfer of Property or a Beneficial Interest in Borrower?

A: The question is based on the agreement of Mortgage loan in real estate deal.

Q: Define charitable contributions

A: A charitable contribution is a gift given to a non-profit firm of money, products, or assistance to…

Q: What claims against an estate have priority?

A: Definition:   Priority claims of assets: When sufficient funds are not available then the order of…

Q: Definition of Estate?

A: Estate: Definition of estate is similar to definition of Assets. Assets owned by an individual in…

Q: Give some examples of an insurable interest and explain why they are insurable.

A: Introduction: Insurable interest is nothing but an interest in the subject of an insurance policy…

Q: Distinguish betwenn program service expenses and supporting service expenses.

A: Expenditures related to the public services offered by the NFP are referred to as program service…

Q: Which of the following will make a family home eligible for a special deduction?

A: Answer -- (b)

Q: Show the treatment of items of Income and Expenditure Account whenthere is a specific fund for those…

A: There are various sources of receipts like donations, subscriptions and government grants. Donations…

Q: What is a Postretirement Benefit Plan?

A:

Q: A. Basic Concepts of Interest (Kindly identify if it is under simple interest or compound interest…

A: Borrowed = Php 125000  Interest rate = 3%  Number of periods = 11months  Under simple method:…

Q: How might the receipt of a gift affect therelationship between the giver and the receiver?

A: Nobody ever learned whenever the tradition of presenting gifts to mark special events began.…

Q: What are QTIP trusts, GRATs, and charitable remainder trusts?

A: QTIP trust: It is also known as qualified terminable interest property. The grantor creates the QTIP…

Q: Define Executor.

A: Will:   A will is a statement made in the lifetime of the person. In his or her will, a person…

Q: What are the differences between a devise, a legacy, and a bequest?

A: Will:   A will is a statement made in the lifetime of the person. In his or her will, a person…

Q: What is the charitable contributions?

A: Introduction: Federal tax: Federal tax can be defined as the tax calculated on the taxable income of…

Q: What is the meaning of Intestate?

A: Accounting: Accounting is a system, or a process of collecting and organizing economic transactions,…

Q: What is a testamentary trust?

A:

Q: Identify the differences between pensions and postretirement healthcare benefits.

A: Both pension funds and post retirement healthcare benefits accrue to an employee after his/her…