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A wife divorces her husband she isn't on any paperwork for the business is she still liable for any debt incurred by the business up to and including the IRS?
Wiki User
∙ 14y ago
If the business is a sole proprietorship or partnership, then the only debts or liabilities will belong to the individuals who are indicated on the Business Resolution. This is a C-Corporation and two parties own the business that are not related If the wife is not on the corporate resolution (signature) and was never authorized to incur debt or make contracts on behalf of the business, then she is held harmless (not liable).
Wiki User
∙ 14y ago
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What is reveue?
Revenue is an income incurred in business.
What is preoperative expenses?
Incurred expenses before company formation after commencement of business
Can you deduct expenses incurred before formally beginning a business?
Certainly - If one is able to establish that expenses were related to the business
What is the difference between obsolence cost and deteroration cost?
Obsolence cost is that cost which is incurred by company due to obsolence of any assets of business while deteroration cost is the cost which is incurred by small deteroration of any asset of business.
Is a spouse financially responsible for debts incurred before the marriage?
Not unless the spouse signed the debt paperwork. However, will they chase one spouse to get to the other spouse, yes they will.
Is one characteristic of a corporation is that its owners are personally liable for any losses incurred by the business?
no
What is Preliminary Expenses?
All the expenses which a business incurred from start of business to actual start of operations of revenue generating activity of business is called preliminary expenses.
What do you call the expenses incurred by a business in transporting materials from a supplier to the place of business and which is always part of the cost of the goods which are carried?
CARRIAGE INWARD
What is financial costing?
Financial cost is that cost which is incurred by the business to arrange finance for business like interest expenses or floatation cost etc.
When are expenses incurred?
When you consume a resource, expenses are incurred. Resources can be consumed by using a resource up or over time. You would incur an expense for a product when it sells or when you buy office supplies for your business.
How much is monthy gross income?
Your total income before taxes, but minus the business expenses incurred.
What is reported revenue?
It is a listing of all revenue/expenses incurred by the business during a set period. It shows areas of growth and areas that are lagging within the business.
