company debts

What Term Refers To The Debts Of A Business?

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What Term Refers To The Debts Of A Business? A liability is something a person or company owes, usually a sum of money. … Recorded on the right side of the balance sheet, liabilities include loans, accounts payable, mortgages, deferred revenues, bonds, warranties, and accrued expenses. Which term refers to business being fully responsible for

Under What Circumstances Can A Shareholder Have Liability For Corporate Debts?

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Under What Circumstances Can A Shareholder Have Liability For Corporate Debts? Liability by agreement and personal guarantees. This is the most common form of shareholder liability. … Bankruptcy. … “Piercing the veil” of the corporation or LLC. … Omission or tortious act by members or shareholders. … Consenting to unlawful distribution. … Tax evasion. Can