Records of decrease in a liability is Debit
Liability
Current Liability
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
Records of decrease in a liability is Debit
Liability
Medical records are not subject to a statute of limitations. Record retention is usually based on advice from counsel regarding possible liability law suits. Tax liability is also a consideration.
The word responsibility is a noun which means liability, charge, obligation, duty, trust, or accountability. The word accountability is a noun which means liability, charge, amenability, blame, trust, or responsibility. Example sentences: I had the responsibility for ensuring that all patients' records were kept accurately. I accepted accountability for the patient's records that were misfiled.
Rates that are for plans that are liability only and for old cheap cars with great driver records.
Yes. There could be personal liability if you engage in self-dealing, fail to maintain good records, co-mingle funds, convert the principal's assets to your own use or mis-manage the principal's assets.
A strategic liability is a liability that is strategic.
Current Liability
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
Corporate records are those records a corporation needs to keep in order to show that it is functioning in the manner required by the Internal Revenue Service and the laws of the state in which the business is incorporated. Corporate records are needed to show that the corporation is functioning appropriately and in order to show that the corporation is a separate entity and to maintain the corporate shield from liability.
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
Medical records (for YOUR protection) are covered under HIPPA (Health Information Privacy and Portability Act) and while the law may not require you to sign for your own records, the medical office may require it in order to protect their liability by getting a receipt from you proving that it WAS you that obtained them.