Limited liability is one of the legal forms (or structures) that a company can have. A company that is registered as a limited liability company (LLC or LTD in the UK), is a separate legal entity (legally separate from it’s owners). Corporate law uses a term, the corporate veil, which basically describes the fact that companies that have limited liability are completely separate from it’s owners and the owners are only liable up the capital contribution they have made.
The Accounting and Finance Community
ARTICLES
Accrued Rent Income – Example With Journal Entries
When is Earned Revenue Reported?
Do You Pay Tax on Drawings From a Business?
Contingent Asset Accounting and Analysis
Accrued Revenue Accounting and Journal Entries
Accrued Expense Accounting and Journal Entries
Prepayments Occur When Payments Are In Advance
Sunday, January 24, 2021