Transaction + Stockholders' Equity Assets Liabilities %3D The owners invested $17,160 cash into the business in exchange for shares of common stock in Thomas 1 Investment in the busigess 17,160 17,160

Q: Define Refund Liability.

A: Refund liability: When a company sells its products with a right of return to customers it has to…

Q: What is meant by contingent Liability? How is it shown in final accounts?

A: Liabilities: The claims creditors have over assets or resources of a company are referred to as…

Q: Describe what is the assumed liability?

A: An assumed liability is an obligation under the terms of the agreement assumed by a party. Insurance…

Q: How do insurance company makes money?

A: The insurance company is referred to as that company whose predominant and primary business is…

Q: What are Contingent Liabilities?  Give an example.  What are the factors that determine the reason…

A: A liability, the occurrence of which is uncertain that is it may or may not occur is known as a…

Q: What are the performance measures of an insurance company?

A: Insurance is a contract in which an individual or business receives financial protection or…

Q: How tools are used in insurance risk management

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: Explain the characteristics of a liability.

A: A liability is an obligation that a person or organization has, usually in the form of money.…

Q: The payment of a liability

A: The liability is the amount due to be paid by the business to its creditors.

Q: Describe the Comprehensive General Liability Insurance?

A: Answer: Comprehensive general liability insurance is an old concept for general liability insurance,…

Q: Define insurance expense.

A: Expense: It refers to the cost incurred by a business to generate revenues in their business…

Q: Types of risk confronting personal property and liability risk

A: In financial terms, risk used to referred to the uncertain event and also the potential financial…

Q: contingent liabilities? Which two conditions have to be met in der to report a contingent liability…

A: The foundation for determining investor returns and analyzing a company's financial structure is the…

Q: How did you find the total liabilitys

A: Liability: It implies to the borrowings including long term and short term that represents the debt…

Q: Explain the characteristics of  liabilities.

A: Liabilities:   It refers to the debts owed by the business for outside entities as a result of…

Q: What is the normal balance for liability accounts?

A: Liability is an obligation that an entity has to pay to its creditors, lenders, suppliers etc.

Q: What is an estimated liability?

A: Estimated liabilities are liabilities which a company owes certainly but the amount of obligation…

Q: Differentiate between Current liabilities, Non-Current Liabilities and Provisions. Provide an…

A: The liabilities are the amount payable by the business to the outsiders or creditors.

Q: Define accrued liability

A: Accrued Liability is an expense that was incurred before the end of the current period but has not…

Q: What is a contingent liability?

A: Liabilities are legitimately restricting commitments that are payable to someone else. In accounting…

Q: ce risk management tools?

A: Risk Management Techniques  Techniques for coping with dangers are known as risk management…

Q: Is there a certain order to list the liability accounts in the balance sheet?

A: A liability is an obligation the settlement of which requires outflow of economic resources of the…

Q: How does credit risk affect insurance companies

A: Credit risks affect insurance companies in a tangible and often direct manner.

Q: What are the categories of liability? Explain them.

A: Liabilities:   A liability is a sum of money owed by the company towards external entities like a…

Q: Discuss about the long term liability Vs short term liability?

A: SOLUTION- LIABILITY- ANY AMOUNT OR SUM A BUSINESS OR COMPANY IS OBLIGATED TO PAY TO ANY INDIVIDUAL,…

Q: How insurance companies works?

A: Insurance companies are the type of organizations that were established in order to cover the…

Q: Differentiate between long term liability and short term liability?

A: First of all, let is understand what a liabilty is - Any amount or sum a business or company  is…

Q: What are “liability gains and losses,” and how are theyaccounted for?

A: Liability gains and losses arise from the unexpected increase or decrease in the value of projected…

Q: Is it possible to distinguish between long-term liability and short-term responsibility?

A: The Answer:

Q: What's the difference between current liability and long term liability ?

A: Liability: Liability is an obligation of the business to pay to the creditors in future for the…

Q: gent liab

A: Contingent Liability A contingent liability is an obligation that may arise as a result of the…

Q: What are the definition criteria of an asset and a liability

A: Assets means the resources which is owned by business. Liability means the amount which is to be…