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What else can I help you with?
Is an accrual a financial liability?
no
How did corporations offer financial security to investors?
by limiting their financial liability
Is contingent liability credit or debit?
Contingent liability is not shown in financial statments until it if considerably clear that liability will be happend and until that time it is shown as a note in notes to financial statement section.
Is a leased car a financial liability?
Yes
What is Unearned revenue reported as in a financial statements?
A liability.
Liability refers to a financial liability brought on by a loss that has resulted from illegal improper or incorrect payments?
Pecuniary
What is the difference between Property owner's liability and Tenants liability?
Property owners Liability is the financial , legal liability attaches to property owners due to their property, where as tenants libility vice versa
Where does interest payable belongs in the elements of financial statement?
liability
How did corporations offer security to investors?
by limiting their financial liability
What is OLT liability?
OLT liability, or Open Loop Trust liability, refers to the financial responsibility that a company has regarding its open loop trust accounts, which are often used for managing funds in loyalty programs, prepaid cards, or similar financial products. This liability represents the obligation to return funds to customers or beneficiaries when they redeem their points or balance. It is essential for businesses to accurately manage and report this liability to ensure compliance with financial regulations and maintain customer trust. Proper accounting of OLT liability helps in assessing the company's financial health and managing cash flow effectively.
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.
Journal entry for contingent liability?
There is no journal entry for contingent liability because contingent means which is not occurred and not sure that when will that liability will be created or liability is depended on certain event that's why contingent liability is shown under financial statements notes as contingent liability.
