Difference between revisions of "Unlimited liability"

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(Created page with "Unlimited liability is when partners may be personally liable for debts of the partnership. ==Definitions== According to College Accounting: A Practical Approach by Sl...")
 
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[[Unlimited liability]] is when partners may be personally liable for debts of the partnership.
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[[Unlimited liability]] is when a single owner or partners are personally liable for debts of their [[legal entity]].
  
  
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*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
 
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]].
  
==Related coursework==
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==Related lectures==
 
*[[Principles of Accounting]].  
 
*[[Principles of Accounting]].  
  
[[Category: Accounting]][[Category: Articles]]
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[[Category: International Accounting]][[Category: Articles]]

Latest revision as of 14:53, 5 January 2019

Unlimited liability is when a single owner or partners are personally liable for debts of their legal entity.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Unlimited liability. Partners may be personally liable for debts of the partnership.

Related concepts

Related lectures