In Which Case Did Lord Evershed MR Explain the Basic

question 13

Short Answer

In which case did Lord Evershed MR explain the basic rule that it is not possible to vary a trust?

---

Definitions:

Completed-transaction Method

A method of recognizing revenue only when all activities related to a transaction are completed.

GAAP

Generally Accepted Accounting Principles, a set of rules and guidelines that companies follow to ensure their financial statements are consistent and transparent.

Right of Return

A policy that allows customers to return purchased goods within a specific period for a refund, exchange, or credit.

Revenue Recognition

The accounting principle detailing the specific conditions under which revenue is recognized and recorded.