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What else can I help you with?
How much liability insurance do I need on my car?
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
IS The liability of corporate stockholders is limited to the amount of their investment?
Yes, the liability of corporate stockholders is generally limited to the amount of their investment in the corporation. This means that if the corporation faces debts or legal issues, stockholders are not personally responsible for those obligations beyond their investment in shares. This limited liability is one of the key features that attract investors to corporations, as it protects their personal assets.
What is limited liability an important feature of?
Limited liability is an important feature of corporations and limited liability companies (LLCs). It protects the personal assets of shareholders and members, ensuring that their financial risk is limited to the amount they invested in the business. This encourages investment and entrepreneurship, as individuals can participate in business ventures without the fear of losing their personal wealth due to the company's debts or liabilities. Overall, limited liability promotes economic growth by fostering a more dynamic business environment.
What is the amount owed to creditors called?
liability
How can one decrease a liability account?
To decrease a liability account, you can either pay off the debt or make a payment towards the amount owed. This reduces the amount of money that you owe, resulting in a decrease in the liability account.
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.
What one of the following statements about limited liability is correct?
Limited liability means that a company's shareholders are only responsible for the company's debts up to the amount they invested, protecting their personal assets from being used to settle the company's obligations. This legal structure encourages investment by minimizing personal risk, making it a fundamental principle for corporations and limited liability companies (LLCs).
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.
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.
How much liability insurance do I need on my car?
The amount of liability insurance you need on your car depends on your state's minimum requirements and your personal financial situation. It is recommended to have enough coverage to protect your assets in case of an accident.
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.
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 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.
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.
