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What else can I help you with?
Is utility a liability or an expense?
Utility is considered an expense, not a liability. It represents the cost of services like electricity, water, or gas consumed during a specific period. While unpaid utility bills can create a liability on the balance sheet, the expense itself reflects the consumption of utilities within a given timeframe.
1 A liability is classified as a current liability if it is to be paid within the coming year?
Yes current liability is that liability which is payable within one fiscal year otherwise it is that portion of long term liability which is payable within one year remaining portion will be long term 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 bonds payable of 5000 issued at 99 dollars is it a current liability or noncurrent liability?
If this bond payable is payable within one fiscal year then it is current liability otherwise if it is not payable within one fiscal year then it is non current liability.
Is wages current liabilitys or non current liabilitys?
If wages already paid then it is current expense, if wages are payable within current fiscal year then it is current liabilities, if wages are payable in morethan one fiscal year that the amount payable in current fiscal year is current liability and the remaining amount will be treated as long term liability.
Is utility a liability or an expense?
Utility is considered an expense, not a liability. It represents the cost of services like electricity, water, or gas consumed during a specific period. While unpaid utility bills can create a liability on the balance sheet, the expense itself reflects the consumption of utilities within a given timeframe.
What is loss assessment on an umbrella policy?
Loss assessment on an umbrella policy refers to the coverage that helps pay for certain costs associated with claims against a policyholder when the primary insurance limits have been exhausted. This can include expenses related to liability claims or damages that exceed the limits of underlying insurance policies, such as homeowners or auto insurance. Typically, umbrella insurance provides additional protection for legal fees and settlements, offering an extra layer of financial security in case of significant claims. It's essential for policyholders to understand the specific terms and limits of loss assessment coverage within their umbrella policy.
In the general ledger how are expense account and liability account arrange?
Alphabetically within their own classification
What is the insurance company responsibility to help you when you have an accident and its not your fault and you only have liability?
A liability insurer has two primary duties to an insured who has been sued: (1) a duty to defend; and (2) a duty to indemnify. The duty to defend means that the insurer is obliged, at its own expense, to hire counsel to defend the insured provided that the allegations of the lawsuit come within the ambit of the coverage of the policy. That is, for example, the liability coverage of a homeowner's policy will not be triggered to defend you if you are sued for an automobile collision. If you have not yet been sued, but a claim has been asserted (such as by a demand letter from the aggrieved party), the liability insurer is obliged to investigate the facts of the claim. Most personal liability policies give the insurer the right to settle claims without the consent of the insured, so it may also make a payment to the claimant. The correlative obligation of the insured is to timely notify the insured of all claims made against him/her/it, forward suit papers, and cooperate with both the insurer and the attorney hired to defend the suit. The cooperation includes meeting with the attorney as needed, responding to requests, attending depositions, attending trial, and other activities. The second main obligation of a liability insurer is to indemnify the insured, meaning, to protect him/her/it from financial loss. This involves paying damages for which the insured may be found legally liable (within policy limits). Again, the insurer usually has the right to settle claims when it deems it in its and the insured's best interests to do so. Indeed, the insurer has a specific duty to settle claims within policy limits when it is possible to do so (that is, when the claimant will accept that amount of money in return for a release of the insured of further liability).
Can you sue a major corporation in small claims?
Yes, you can as long as the subject matter and the amount of the claim fall within the jurisdictional limits of that court.
What factors could lead to filing two insurance claims within a span of 6 months?
Filing two insurance claims within a span of 6 months could be due to factors such as multiple accidents or incidents, changes in coverage or policy limits, or a combination of both.
1 A liability is classified as a current liability if it is to be paid within the coming year?
Yes current liability is that liability which is payable within one fiscal year otherwise it is that portion of long term liability which is payable within one year remaining portion will be long term 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.
What are United Medical Resources filing limits for corrected claims?
United Medical Resources typically allows corrected claims to be filed within a specific timeframe, usually within 90 days from the date of the original denial or the date of service, depending on the policy guidelines. It's essential for providers to check the most current guidelines directly from United Medical Resources, as these limits may vary or be updated. Additionally, timely submission of corrected claims ensures appropriate reimbursement and minimizes delays in processing.
Where can i find good liability insurance?
Liability insurance protects the insured in the event he or she is sued for claims that come within the coverage of the insurance policy. State Farm, Allstate, and Geico are all top companies that offer liability insurance. You can contact one of the above for free quotes in your area, and find out more information to find the policy that works for you.
When was From Within - The Outer Limits - created?
From Within - The Outer Limits - was created on 1996-04-28.
Which section is responsible for handling claims related to property damage?
The section typically responsible for handling claims related to property damage is the claims department of an insurance company. Within this department, specialized adjusters evaluate the claims, assess damages, and determine coverage based on the policy terms. Additionally, legal or risk management teams may be involved if disputes arise or if there are complex liability issues.
