Difference between revisions of "Unlimited liability"

Revision as of 08:56, 21 December 2018

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

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

Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. 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.

Revision as of 11:07, 20 December 2018 (view source) Gary (talk \| contribs) (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...")		Revision as of 08:56, 21 December 2018 (view source) Gary (talk \| contribs) Newer edit →
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−	[[Unlimited liability]] is when partners ~~may be~~ personally liable for debts of ~~the partnership~~.	+	[[Unlimited liability]] is when the single owner or partners are personally liable for debts of their [[legal entity]].