BUISENESS MANAGEMENT
RISK MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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____ result from the possibility of losing money, property, or other assets as a result of legal proceedings.
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Personal
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Liability
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Property
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None of these
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Explanation:
Detailed explanation-1: -Key Takeaways. If a company’s liabilities exceed its assets, this is a sign of asset deficiency and an indicator the company may default on its obligations and be headed for bankruptcy.
Detailed explanation-2: -Liabilities can be classified into three categories: current, non-current and contingent.
Detailed explanation-3: -A balance sheet is a financial statement that reports a company’s assets, liabilities, and shareholder equity.
Detailed explanation-4: -According to IAS 32, a financial liability is considered as an obligation to deliver cash or assets to another firm, or to exchange assets or liabilities with another firm. Bonds payable, debt investments, equity investments and so on.
There is 1 question to complete.