Learn what a contra liability account is, how it functions in financial accounting, and explore examples of this essential component in balancing liabilities.

A liability is a financial obligation or debt owed. Liabilities are key elements on every company’s balance sheet, and therefore, important to stock and bond investors. Learn more. In finance and ...

Liability matching is a strategy that aligns asset sales and income with future expenses. This ensures that funds are ...

In certain circumstances, two or more people organize their business as a limited liability partnership to receive some unique benefits. LLPs are often used by professional services businesses, like ...

Product liability insurance is needed for businesses that make, sell or distribute products. Learn about what it covers and ...

An insurance policy that service-related businesses need is professional liability insurance. Learn about what it covers and ...