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Who has pecuniary liability for erroneous payments?
Certifying Officers have pecuniary liability for erroneous payments.Certifying Officers
Pecuniary liability is the personal liability of?
Certifying Officers
Pecuniary liability is the personal liability for whom?
Certifying Officers
An automatic presumption of pecuniary liability applies to?
Certifying Officers and Dispursing Officers
Pecuniary liability attaches?
automatically to certifying officers when there is fiscal irregularity
LLC Liability Insurance?
form_title=LLC Liability Insurance form_header=Even as a limited liability company, it's important to have protection from personal liability. Have an insurance professional create a personalized quote based on your business risks. Type of Insurance Needed:= [] General Liability Insurance [] Property Liability Insurance [] Professional Liability Insurance [] Directors and Officers Liability Insurance [] Product Liability Insurance [] Other [] Not Sure Years In Business:=_ How many total people work in your business (including yourself, owners, officers, employees, contractors, etc)?=_
Is advances from officers a current or long term liabilities?
Advances from officers is a current liability as it is assumed to be return within one fiscal year.
What is a certifying odffcer's max level of pecuniary liability?
A certifying officer's maximum level of pecuniary liability is typically limited to the amount of funds they certify for payment or the amount of the obligation they authorize. This liability can arise if they certify a payment that is not legal or properly authorized, leading to potential financial losses. The specific limits can vary depending on the regulations governing the certifying officer's role and the agency's policies. It is important for certifying officers to adhere to proper procedures to mitigate any potential liability.
What is the difference between liability insurance and directors and officers liability insurance?
If you mean the difference between General Liability (GL) and Director's and Officer's Liability (D&O), GL typically covers your products, premises and operations, advertising and personal injury liability. D&O covers the liability arising from the operations and decisions of the directors and officers of an organization. Because directors can be personally liable for their decisions, whether for a corporation, limited liability company, non-profit or other form of an organization, D&O provides specific coverage for their liability.
How many types of balance sheet can be generated in tally?
Sources of Funds: comprises of Liability and EquityApplication of Funds: comprises of Current and non Current Assets
If Certifying Officers or Disbursing Officers doubt the legality of authorizing the obligation or payment of government funds they should seek advice from?
the DoD General Counsel
What is pecuniary liability for a Certifying Officer?
Pecuniary liability for a Certifying Officer refers to the financial responsibility that the officer may incur if they certify a payment or obligation that is not legally authorized or is improper. This liability arises when the officer fails to ensure that funds were available and properly appropriated, potentially leading to personal financial consequences. Essentially, Certifying Officers must exercise due diligence in their duties to avoid unauthorized expenditures, as they can be held accountable for any resulting losses.
