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How much liability insurance is required for certified public accountants?
Wiki User
∙ 11y ago
Each state has its own liability insurance requirements of a certified public accountant. These amounts may also differ whether the business is a sole proprietorship, partnership, or corperation.
Wiki User
∙ 11y ago
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Are accountants required to maintain professional liability insurance?
It is not a requirement but having a good professional liability insurance policy in place will give you more credibility in your industry. If you are an accountant in the employ of another then you should not have a need for a professional liability policy. If you work as a self employed or a contractor you should carry coverage. Many companies will require you show them your insurance before they will grant you contract work.
Does interest payable go on a balance sheet?
Interest payable is the interest which is not yet paid and required payment to be made so it is the liability of the company and that's why it will show as a current liability under liability side of the balance sheet.
A check drawn by a company for 270 in payment of a liability was recorded in the journal as 720 What entry is required in the company?
Reduction in liability for 550 should be recorded in journal to reduce the excess payment.
Is interest payable a long term liability or current liability?
A payable (such as interest payable) can be either a long term or current liability, to find out which consider the definitions of each. Current liability is any liability that will be fully paid within one year (or less) or one accounting period. Long term liability is any liability that will take more than one year or accounting period to be fully paid. For the most part, interest payable is current, as it usually is required to be paid quickly, however, that is not always the case.
Do accountants have to keep a tax return transcript for more than ten years on file?
The IRS has a strict set of rules for everyone who prepares taxes. So due to these rules it is required that accountants keep a tax return transcript on file for at least 7 years. Some though will keep them on file for a lot longer.
Is liability for auto insurance required by the state of Utah?
Liability insurance is the minimum coverage you can get and is required in every state.
Are accountants required to maintain professional liability insurance?
It is not a requirement but having a good professional liability insurance policy in place will give you more credibility in your industry. If you are an accountant in the employ of another then you should not have a need for a professional liability policy. If you work as a self employed or a contractor you should carry coverage. Many companies will require you show them your insurance before they will grant you contract work.
Are daycares required to carry liability insurance?
Yes daycares are required to carry liability insurance,the amount is determined by the size of the day care center
What car insurance is legally required in Tennessee?
It is required to have liability car insurance to legally drive in Tennessee.
What auto insurance is required by the state of California?
liability.
What is the minimum amount of liability insurance coverage required?
The minimum amount of liability insurance coverage required (in California) is: 15/30/5. 15/30/5
What kind of coverage is required under compulsory insurance laws?
Liability insurance
Is gerneral liability insurance for contractors required in the state of Calif?
As of this date, liability insurance is not required but SB2029 requires that home improvement contractors disclose to home owners in writing to any potential customer whether or not they carry commercial liability insurance.
Is auto theft covered by liability insurance in Colorado?
No. Liability insurance covers damage you do to someone else's property. Theft would be covered by comprehensive insurance. In most jurisdictions, liability insurance is required but comprehensive is not.
Is auto insurance required in the state of PA?
Auto insurance is a state law requirement in PA. You are only required to carry liability insurance.
Driver become subject to liability insurance law when accident damages amount to?
You are subject to liability insurance requirements whether or not an accident occurs. An accident has nothing to do with liability requirements. You are required to have liability insurance of at least the minimum required by your state before getting into a vehicle and driving it. Driving is what triggers the law.
Is auto liability insurance required in all 50 states?
Yes, auto liability insurance is required in all 50 states, howeve the limits of liability vary between states. Some require less than others.
