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In financial accounting, a liability is a quantity of value that a financial entity owes. More technically, it is value that an entity is expected to deliver in the future to satisfy a present obligation arising from past events. [1] The value delivered to settle a liability may be in the form of assets transferred or services performed.
Corporate liability, also referred to as liability of legal persons, determines the extent to which a company as a legal person can be held liable for the acts and omissions of the natural persons it employs and, in some legal systems, for those of other associates and business partners.
The "mit beschränkter Haftung (mbH)" suffix (German: [ˈɛmbeːˌhaː], "with limited liability") is sometimes added to the name of a firm that already ends in "-gesellschaft" ("company"), e.g., "Mustermann Dental-Handelsgesellschaft mit beschränkter Haftung" ("dental trading company with limited liability"), which would be abbreviated as ...
This page covers the naming convention of businesses, corporations, companies, public limited companies, limited companies, limited liability partnerships, limited liability companies, proprietary companies, unlimited liability corporations, and other types of corporation. A corporate entity is not excluded from this guideline if it is not-for ...
Receipt of liquidated damages and intimately linked with the purpose of the profit-making apparatus, is a capital receipt. The amount received by the assessee towards compensation for sterilization of the profit earning source is not in the ordinary course of business. Hence, it is a capital receipt in the hands of the assessee.
For example, $225K would be understood to mean $225,000, and $3.6K would be understood to mean $3,600. Multiple K's are not commonly used to represent larger numbers. In other words, it would look odd to use $1.2KK to represent $1,200,000. Ke – Is used as an abbreviation for Cost of Equity (COE).
Typically, a PLLC's members must all be professionals practicing the same profession. In addition, the limitation of personal liability of members does not extend to professional malpractice claims. A series LLC is a special form of a limited liability company that allows a single LLC to segregate its assets into separate series. For example, a ...
Liability for payment of an award of damages is established when the claimant proves, on the balance of probabilities, that a defendant's wrongful act caused a tangible, harm, loss or injury to the plaintiff.