Treatment of Particular Items Clause Samples
The 'Treatment of Particular Items' clause defines how specific types of transactions, assets, or liabilities are to be handled within the context of the agreement. It typically outlines the accounting methods, recognition criteria, or special considerations for items such as inventory, intellectual property, or contingent liabilities. By clearly specifying the approach for these particular items, the clause ensures consistency and transparency in financial reporting, reducing the risk of disputes or misunderstandings between the parties.
Treatment of Particular Items. The Trustees shall have full discretion, to the extent consistent with the 1940 Act and consistent with generally accepted accounting principles, to determine which items shall be treated as income and which items as capital; and each such determination and allocation shall be conclusive and binding upon the Shareholders.