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What is a condo owner's liability if his overflowing bathtub water damaged my unit?
Wiki User
∙ 13y ago
You can work with the board to determine who has the responsibility to repair the damage and then who has the responsibility to pay for the repair, because the two responsibilities may be different.
This is not a matter that a single owner should handle solo: involve your board.
Wiki User
∙ 13y ago
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Is owners capital a liability?
Yes owners capital is liability for businss towards its owners to be return back at the even of liquidation of business.
What is the difference between Property owner's liability and Tenants liability?
Property owners Liability is the financial , legal liability attaches to property owners due to their property, where as tenants libility vice versa
Is rent income a asset liability or owners equity?
asset liability
Why is owners equity regarded as a liability to the business?
Owners equity is the amount invested by the owner of business to the company and as a seperate entity it is the liability of the business to return back that amount to owners as owners are seperate entity to business.
Is Investor Equity an asset or liability?
Investors are those persons who invests money in business so they are the owners of business as well and that amount is the liability of business to pay back to it's owners that's why it is the liability and not the asset.
Is cash an asset liability or owners equity?
asset
Is an owners life insurance an asset or a liability?
Asset.
Difference between company and other forms of business?
The liability of owners is limited to the extent of their contribution is Limited companies whereas in other forms of business the liability of owners is unlimited.
Why Liability equals Assets?
Assets- Liabilities = Owners Equity :)
Is wages expense a asset liability or owners equity?
neither
What is meant by LLC?
LLC: Limited Liability Company It is a type of company in which the owners bear only a limited liability.
Do inventor and owners of prouct need product liability ins?
It is not mandatory for inventors or owners of a product to carry product liability insurance. Most insurance agencies will say that it is wise for them to obtain product liability insurance in order to protect them from potential risks.
