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What else can I help you with?
How do you record an increase in a liability account?
Any increase is an credit for a liability
Is unearned revenue a current liability when advance payment received for construction work?
no
What happens if you fail to record a liability?
if one faills to record a liabilt your whole income and balance sheet goes out of place
What is the detailed record of the changes in a particular asset or liability or owners equity called?
account
Do you decrease a liability account with credit?
No, a liability account is decreased with a debit, not a credit. In accounting, liabilities represent obligations, and to reduce them, you would record a debit entry. Conversely, credits increase liability accounts. Therefore, to decrease a liability, you would use a debit entry.
What is billings on construction in process?
It's a contra-asset account to construction in process. It's used to record periodic billings on a construction project.
Do I have to have liability insurance if I open a small construction business?
Yes, you are required to have liability insurance if you wish to open, and have licensed, a small construction business.
How do you record an increase in a liability account?
Any increase is an credit for a liability
Usually failure to record a liability means failure to record an?
Expense
How can I find quick construction liability insurance for comparison rates?
The best way to compare your interest rates with a competitor company is to go online to a construction liability website and put down your information vs your competitors.
Which insurance companies offer construction liability insurance?
Some insurance companies that offer construction liability insurance include Goodman Insurance and Progressive. You can learn more about these companies and their insurance plans at their official websites.
When does a corporation record a dividend related liability?
on a declaration date
What is general liability classification code 91581?
Contractors-SubContracted work-construction
Is unearned revenue a current liability when advance payment received for construction work?
no
Definition of record drawing?
From the American Institute of Architects, Record Drawings are construction drawings revised to show significant changes made during the construction process, usually based on marked-up prints, drawings, and other data furnished by the contractor or architect. This term is preferable to "as-built drawings."
Failure to record a liability will probably?
result in a overstated net income
How much does collision liability cost?
It depends on your record and who your insurance company is.
