BUISENESS MANAGEMENT
BUSINESS STRUCTURE
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Liability
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Assets
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Bankruptcy
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Claim
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Detailed explanation-1: -Some common synonyms of accountable are amenable, answerable, liable, and responsible. While all these words mean “subject to being held to account, ” accountable suggests imminence of retribution for unfulfilled trust or violated obligation.
Detailed explanation-2: -These two terms are basically synonymous. However, liability usually refers to a legal responsibility, while accountability refers to a social responsibility. Here are some examples: If I hit someone’s car with mine, I am liable to pay the damages.
Detailed explanation-3: -If you are accountable to someone for something that you do, you are responsible for it and must be prepared to justify your actions to that person. Public officials can finally be held accountable for their actions.
Detailed explanation-4: -A party is liable when they are held legally responsible for something. Unlike in criminal cases, where a defendant could be found guilty, a defendant in a civil case risks only liability.