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Which one of the following types of businesses has the least amount of personal liability?
Wiki User
∙ 11y ago
In limited company,the amount of personal liability is only limited to the shares you own and there is no personal liability.And the highest personal liability is in soleproprietorship.
Wiki User
∙ 11y ago
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What is the amount owed to creditors called?
liability
How does contingent liability impact earnings?
Contingent liability can impact earnings because it is a projected and future liability. Not knowing what the outcome of the liability is, it can unexpectedly affect a large amount of earnings.
Where can I find a list of Federal Grants that are available for small businesses?
You can find good amount of information about Federal Grants available for small businesses by following these links-http://usgovinfo.about.com/od/smallbusiness/a/stategrants.htm; http://www.federal-grants.net/; AND http://www.grants.gov/
Difference between provision for reserve fund and reserve fund?
Provisions are those where the liability existence is certain, but the amount of liability cannot be determined with substantial accuracy. In case of reserves, the liability is not known. but some amount of profits are kept aside for meeting the contingencies that might become actual liabilities.
When material in amount a bank overdraft should be treated as a?
Should be treated as an liability
Explain homeowners personal liability?
A personal liability, or umbrella, policy pays liability limits above those you can get on your homeowners or other basic liability policy. If you are thinking of buying a personal liability policy, begin by finding out the maximum amount of personal liability your homeowners policy provides. Make sure you coordinate the liability limits so that the umbrella policy covers any liability claim in excess of the amount your basic policy will pay, up to the maximum limits of the policy.
Are factories who pollute the air with smoke required to have pollution liability insurance?
There are many different requirements for businesses who pollute the air with smoke. These businesses have to get permits and carry pollution liability insurance. Also, the amount of smoke they put into the air is also regulated.
Who pays if sued for more than liability coverage?
If the amount of liability insurance coverage isn't enough to pay for the damage, the insurance company will only have to pay the amount of the policy. For the rest of the amount, a personal lawsuit can be brought against the responsible party.
What is the difference between Partnership and Limited Liability Company?
in case of limited liability company the members are liable up to a specific amount or the capital invested by them but in case of partership the liability is unlimited and even the personal properties can be sold for paying up the credit in case of limited liability company the members are liable up to a specific amount or the capital invested by them but in case of partership the liability is unlimited and even the personal properties can be sold for paying up the credit
How much personal liability car insurance do I need?
Personal liability insurance is intended to cover you for damage you may cause to others. The amount of insurance you choose to get depends upon your assets and personal financial situation. There may be certain state minimum requirements as well.
How much cash can you?
There is no set amount on the cash you can transfer. Businesses can transfer more money than people can from their personal accounts.
What is the differnent between a current liability for an uncertain amount and a contingent liability?
Under current liability of uncertain amount liability is created on company although actual amount is unknown but in contingent liability, liability is not created on company unless specific date or time or occurence of any contingent action or activity.
If a request for relief is denied what happens?
If a request for relief is denied, the individual may not receive the desired assistance, benefit, or outcome they were seeking. They may need to explore alternative options, appeal the decision, or seek help from other sources or programs that could potentially provide the relief needed. It is important to carefully review the reasons for the denial and assess next steps accordingly.
Who needs to carry personal umbrella insurance and what does it cover?
Personal umbrella insurance coverage and costs vary by company. Most require that you carry a defined amount of liability on your car or home policy.
What is the difference between annual liability and annual flow liability?
Annual liability is the amount of liabilities you have at a specfied date, while annual flow liability is the amount of annual liability thatmust be repaid during the next financial year.
How much cash can you transfer?
There is no set amount on the cash you can transfer. Businesses can transfer more money than people can from their personal accounts.
What is a type of liability in which you only lose your initial investment in the company?
A type of liability in which you only lose your initial investment in the company is limited liability. This means that shareholders or owners are only responsible for the debts and obligations of the company up to the amount they initially invested, and their personal assets are not at risk. This is commonly seen in the form of limited liability companies (LLCs) and corporations.
