0
What is a person or business to whom a liability is owed called?
Wiki User
∙ 6y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
An amount owed by a business?
Liability
Does business has an authority to declare itself insolvent?
Business BankruptcyWhen a business declares bankruptcy, employees must take three simultaneous steps to try to recover the amounts they are owed.
What is in a going out of business letter?
A 'going out of business' letter is a letter from a business announcing that the business is closing. A 'going out of business' letter may be sent to regular customers, regular vendors, the banks and financial institutions with which you do business, and the businesses to whom money is still owed (including how and when they may expect final payment). If the closing business is an important employer or supplier in its community, a 'going out of business' can be sent to media outlets to inform the general public. A 'going out of business' letter should never be used to inform employees of that business, employees should have been informed in person (perhaps in a meeting held for that purpose) in advance of notifying the public.
A what is a good or service owed to another?
Debt
If a plumbing company hires another plumbing company to help out on a job are they considered subcontractors?
In general..... (check with your states contractor law / licensing board) If you signed a contract with company "A" and they hired conpany "B" to perform certain functions, duties, etc. on your job, then yes, they would be considered a "subcontractor", so long as "A" hired them. The bad news is that if "A" did not pay "B", "B" could file a lien against your property fpr the balance owed. There are other issues involved with respect to workman's compensation, liability or permit aspects.
An amount owed by a business?
Liability
What is the amount owed to creditors called?
liability
What should be considered a liability?
A liability is anything owed to one company/person by another.If you owe money to someone it is a liability.
What is a liability?
A liability is an obligation, money owed or perhaps a burden. A company or organisation has the liability to pay to outsiders such as creditors, accounts payable, long term loans, etc. In a liability, a person has a legal responsibility for their actions. Liabilities means a debt or the amount due from a business to others or the amount owned by a business to others party. Ex: laws borrowed, bills payable etc.
Is deferred revenue a current liability?
Yes, deferred revenue is a current liability. It means that the revenue has yet to be earned, therefore it is still owed to the business or company.
Debts owed by a business are called?
Debt held by businesses is called Business debt
What is money owed to a business called?
Accounts Payable
Debts owed by a business are referred to as?
Debt held by businesses is called Business debt.Liabilities of the business.
A business paid 9000 to a creditor in payment of an amount owed The effect of the transaction on the accounting equation was to?
increase an asset, increase a liability
A business paid 7000 to a creditor in payment of an amount owed. The effect of the transaction on the accounting equation was to?
decrease in asset and decrease in liability
Is money owed to your business an asset?
Yes it is. . .it is called receivable.
The Debt owed by a business to an outside individual or organization is called its what?
liabilties
