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Is an accrual a financial liability?
no
How did corporations offer financial security to investors?
by limiting their financial liability
Is a leased car a financial liability?
Yes
Is contingent liability credit or debit?
Contingent liability is not shown in financial statments until it if considerably clear that liability will be happend and until that time it is shown as a note in notes to financial statement section.
What liability refers to a financial liability brought on by a loss that has resulted from illegal improper or incorrect payments?
Pecuniary
What is Unearned revenue reported as in a financial statements?
A liability.
Where do dividends on the financial statements?
Dividend payable is liability and shown under liability side of balance sheet.
Liability refers to a financial liability brought on by a loss that has resulted from illegal improper or incorrect payments?
Pecuniary
Where does interest payable belongs in the elements of financial statement?
liability
How did corporations offer security to investors?
by limiting their financial liability
What is the difference between Property owner's liability and Tenants liability?
Property owners Liability is the financial , legal liability attaches to property owners due to their property, where as tenants libility vice versa
Journal entry for contingent liability?
There is no journal entry for contingent liability because contingent means which is not occurred and not sure that when will that liability will be created or liability is depended on certain event that's why contingent liability is shown under financial statements notes as contingent liability.
