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

As a former claims handler and fraud investigator, Jason Metz has worked on a multitude of complex and multifaceted claims. The insurance industry can be seemingly opaque, and Jason enjoys breaking ...

Christy Bieber has a JD from UCLA School of Law and began her career as a college instructor and textbook author. She has been writing full time for over a decade with a focus on making financial and ...

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 ...

The limitation of liability is one of the most important clauses in a software license agreement because it limits the amount and types of damages one party can recover from the other party. For ...

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

What would happen if your business was sued? You damage a client's property, one of your employees is injured on the job, a customer slips and falls in your store—that's all it takes. And then what?

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

You need a general liability insurance policy in order to get a certificate of liability insurance. Many, or all, of the products featured on this page are from our advertising partners who compensate ...