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Marshalling is a legal principle used in insolvency and property law that ensures the equitable distribution of assets among creditors. It allows a court to direct that certain assets be used to satisfy specific debts, thereby protecting the rights of various creditors. This concept is rooted in the idea that a creditor should not benefit from a debtor's assets at the expense of another creditor who has a legitimate claim. In many jurisdictions, marshalling is governed by the principles of equity and can be invoked under various statutory provisions depending on the context, such as bankruptcy or secured transactions laws.
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Grouping and marshalling in balance sheet?
grouping and marshalling in balance sheet grouping and marshalling in balance sheet
Why are marshalling yard necessary?
Why are marshalling yards necessary
When was Feltham marshalling yard created?
Feltham marshalling yard was created in 1918.
What is data marshalling?
Data marshalling is a method to prepare data for processing or for transport over a network.The packaging of arguments passed to a procedure is called marshalling.
What is marshalling cabinet?
Marshalling cabinets are just cabinets with electrical connectors, where all wires are re-arranged in the desired way.
What are the potential risks that may be evident for the client and or the service provider under the provision of determined care?
potential risks for client and service provider under a provision of determined care
Provision for bad debt is what type of a c?
The provision for bad debts will be categorized under the profit and loss account.
The AFI that governs marshalling is?
Afi 11-218
How do you treat over or under provision of income tax?
Best way to understand is through an example: If in 2010 you have a provision for tax of $2,000 payable for accounting. However the actual tax paid was $1,500. You would have an over provision of income tax. So once the tax is paid in 2011 it will Dr Provision Cr Bank. So in 2011 the amount of the over provision must be adjusted by: Dr Provision for tax Cr Income tax expense This will clear out the tax provision for 2011 resulting from the over provision. Same concept applies to under provsions.
Provision is an asset or a liability?
yes its come under Assets Account.if you are make provision for Expenses which may occurred in next few month (less than 12 month) the provision account come under Current Assets. (Just like Prepaid expenses)
For how long can information on US Persons be retained in order to determine if it may be collected under Provision 2 and retained under Provision 3 DoD 5240 1-R?
90 Days or Less
Should Provision for depreciation comes under current liabilities?
All provisions comes under current liabilities so provision for depreciation is as well because it is made for one fiscal year only.
