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Food can be considered a liability in certain contexts, particularly in terms of financial management and waste. For businesses, perishable inventory can lead to losses if not sold in time, impacting cash flow. Additionally, for individuals, the cost of purchasing and maintaining food can strain budgets, especially if it leads to waste. However, food is also an essential asset for health and well-being, making its classification as a liability situational.
What else can I help you with?
Is Creditors an asset or liability?
Current Liability
How is a liability increased by a credit or debit?
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
3 When is a liability classified as a current liability ad as a noncurrent liability?
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
Is Demand loan a current liability or a long term liability?
a current liability
Is liability for withholding taxes a current or non current liability?
current liability
What is liability class code 12362?
Distributors - No Food or Drink
Who is liable if someone gets food poisoning the boss or the person who preps the food?
Both. The owner has the ultimate legal liability .
Do you need a food license for snow cones?
You most definitely will have to carry a license to sell any product, especially food, and I have never see a license requirement that did not liability insurance also require liability insurance. Hope that helps! (I found the anser on google)
What is commercial liability insurance?
It's liability insurance for a business. It contains a bunch of stuff a homeowner's policy, or a motorist's policy, would not. A restaurant would be covered against choking, food poisoning and adverse food reactions. My company is insured against someone falling off the loading dock.
What is an strategic liability?
A strategic liability is a liability that is strategic.
Is Creditors an asset or liability?
Current Liability
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
How is a liability increased by a credit or debit?
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
What type of insurance do you need for a coffeehouse?
Look for a Businessowners policy - THis will provide you with Property, General Liability, Crime and Food Spoilage.
What is public liability insurance and how is it different from general liability insurance?
General liability covers Public and Producs Liability, therefore by having General Liability cover, public liability is covered also.
Is a cheque account an asset or liability?
It comes under liability
3 When is a liability classified as a current liability ad as a noncurrent liability?
When liability is payable within one fiscal year then it is current liability while one liability is payable within more than one period then Is non-current liability.
