= not responsible for If one is immune from liability then that person cannot be held responsible for the reason that person has immunity from.
no
what is meaning of liability in accounting
no
Legal Liability. Liability.
The amount of liability which is yet to be paid as on the balance sheet date is known as outstanding liability
Absolute liability means that a party is responsible for damages or injuries regardless of fault or intent. This legal doctrine holds individuals or entities strictly liable for harm caused, often in cases involving hazardous activities or products. It removes the need to prove negligence and focuses solely on the harm inflicted.
With Limited Liability in a business organization
an exception
The immune system comprises the body's defenses.
The state of being liable; as, the liability of an insurer; liability to accidents; liability to the law., That which one is under obligation to pay, or for which one is liable., the sum of one's pecuniary obligations; -- opposed to assets.
I liability that may be incurred depending upon future event(s) Example- let there is a claim on a company existence of that liability is depends on decision of court so existence of that liability is uncertain so we can say that contigent liability is that liability which may occur or may not. ..
Yes, a debit decrease liability and a credit increase liability. if a debtors/customer make the repayment obligation, it will decrease debtors, meaning decrease in liability.