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

Q: Fair Value measurement

A: Fair value is the estimated selling price of an asset or settlement price of a liability.

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 are the fundamental differnces between lessor and lessee?

A: Lessor is the person who has the ownership of the leased asset and grants on lease his asset for a…

Q: Explain Quitclaim Deed?

A: Quitclaim Deed: Quitclaim Deed is also called as non-warranty deed. A quitclaim deed is considered…

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: What is meant by debentures?

A: A company has several sources from where it can raise funds. It can issue equity shares and the…

Q: What is Insolvencey?

A: Liability: It is the legal financial debt owed by a company to outside entities that arises over the…

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 the effect of the fulfillment of the condition in a conditional obligation? resolutory…

A: A conditional obligation would seem to be one that is contingent on the occurrence of an unknown…

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: The components of postretirement benefit expense are similar to the components of pension expense.…

A: Other postretirement benefits: The postretirement benefits which are provided by employers, other…

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: Explain using practical example how a discount on a debenture is treated ?

A: Let us take an example Divya Ltd. issues Rs. 1, 00,000 debentures on Jan. 1, 2021, at 10 per cent…

Q: How did you calculate the depriciation expense?

A: This method also called diminishing balance method or declining balance method where the…

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: Contrast the constructive receipt doctrine with the claim of right doctrine.

A: As per the constructive receipt doctrine, a tax payer is required to pay taxes on income even if the…

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: Direct Compensation coverage.

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

Q: How incrising minimun wages affect compensation ?

A: Raising the minimum wage would make it more expensive to hire low-paid workers as it would be…

Q: What are probate laws?

A:

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

A:

Q: What is the difference between equity of redemption and statutory redemption?

A: The difference between equity of redemption and statutory redemption are:

Q: What is nonpecuniary benefits?

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

Q: The party to whom payment is to be made is called the payee. True O False

A: Payee the person to whom the payment is made or to be made.

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

A: Differences:   The actual present value obligation of the pension that is payable to the employee is…

Q: How is the Handling of Unequal Service Lives done?

A: When decision has to be made while comparing one project with other projects and out of which only…

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: Describe workers' compensation and explain why it is important.

A:

Q: What is the difference between the APBO and the EPBO? What are the components of postretirement…

A: Difference between the APBO and the EPBO:Expected pension benefit obligation (EPBO): The amount of…

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: What is meant by “past service cost”? When is past service cost recognized as pension expense?

A: Prior Service Cost- When an employee is granted a pension revision, the amount of benefit earned…

Q: What must a contract include for the contract to exist for purposes of revenue recognition?

A: Step 1: An accounting principle that has outlined certain conditions for the treatment of the…

Q: Required: a. if arturito will accept the special order, what is the incrementak benefit(loss)?

A: Variable cost means the cost which vary with the level of output where as fixed cost remain fixed…

Q: mpted by law or statute and it does not me on for services constitutes compensation in e as long as…

A: Compensation income refers to the form of income gained by an entity that arises out of an…

Q: Explain how to Determining Whether a Contract Exists for Revenue Recognition Purposes.

A:

Q: The measurement of defined benefit cost is usually made by a trustee.  True or false?

A: Defined-benefit plan: It is an Employer-Sponsored Retirement Plan in which employee benefits are…

Q: allowable deduction?

A: Definition : Deductions under income tax: Deductions are allowed on taxable income of the…

Q: Explain the requirements for the formation of a suretyship relationship.

A: Intrduction : A suretyship arrangement is described as a relationship in which a third person, the…

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 is the definition of fair value?

A: Investments:

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: What is Accumulated benefit obligation?

A:

Q: When will a person be bound by a contract entered into by another?

A: Introduction: A contract is a written or verbal agreement between 2 or more entities that generates…