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Why is unearned revenue considered a liability?

When a company refers to “unearned revenue,” it is often considered a liability because it is merely an estimate of what a company hopes to make in the future. If a business starts treating this number...

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What is joint and several liability?

Joint and several liability is a facet of the business structure known as a partnership. In fact, it is likely the most important facet in determining whether or not this structure is the appropriate...

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What does limited liability mean?

Any person who starts a business wishes that it flourish in an unprecedented manner and yield a lot of revenue. But then, there are cases where the business folds soon after it is launched thereby...

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How is a claim handled?

Owning a policy is like having a child and handling a claim is like grooming the kid. In both the cases, the results will be as expected if you do it the right way. Be it an auto, homeowners or...

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What kind of insurance would a nail salon need?

Any business, irrespective of being small or big, requires protection from insurance, and nail salon is no exception. Like in any other business, nail salon also will have employees, who have to be...

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What do you look for in a good insurance agent?

A good insurance agent is someone who will promptly answer your questions and genuinely be happy to talk to you. Of course, it is nearly impossible to tell if politeness is genuine, or if the agent is...

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