assets and size of current liabilities. Current Ratio=Current Assets (C.A)/Current Liabilities (C.L) The standard of current ratio is (2/1) means company must have “2” or twice assets to be paid out “1” liability. In this case company’s current ratio is 0.98 means it has 0.98 assets to be out “1” liability. So this company is not performing well and it is not up-to the mark (rule of thumb).It’s Current Assets are (2‚049‚482‚448) and Current Liabilities are (2‚092‚801‚374).
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may help you identify how an organization can minimize the tort liability risk for a company. The readings analyze intentional torts and negligence with the intentional torts against persons‚ as well as examples of cases that address this issue. You study unintentional tort (negligence)‚ and you discuss the seminal case of Palsgraf v. The Long Island Railroad Company. The readings also address strict liability and product liability. This information focuses on defective products and manufacture
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sheet consists of assets and liabilities of any firm. The assets are called as the uses of the firm and the liabilities are called as the sources of the firm. Sources of the firm: (Debts or liabilities): The debts or liabilities are the claims of the outsiders against the assets of the firm. The liabilities refer to the amount payable by the firm to the claimholders; i.e. the amount owed by the firm to other parties. For an obligation to be recognized as a liability‚ it must meet three requirements
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Briefly explain the meaning of‚ and reasons for‚ strict liability. For strict liability offences it can be said that the prosecution does not have to prove the existence of mens rea for one or more of the elements of the actus reus of the offence. It is often said that no mens rea is needed for strict liability offences. This is probably an over simplification. A more complete answer would be that the prosecution does not have to prove the existence of mens rea for one or more of the elements of
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The balance sheet lists each individual account that applies as a liability account. Accounts payable‚ notes payable‚ short term debt‚ accrued liabilities‚ and other current liabilities added together will give you the actual year-end dollar amounts for total current liabilities. Long term debits added together configures the dollar amount according to the individual year that is being covered to give McDonald’s Corp total liabilities numbers. The 2 most recent annual reporting periods for McDonald’s
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Aim The aim of this article is to examine the role of the Law of Tort in business activities assessing particular forms of tortuous liability and apply the elements of the Tort of Negligence. Scope It includes the nature of general tortuous liability，the nature of employer’s liability，the application of the elements of the Tort of Negligence and vicarious liability. Background to study Case study No. 1 Facts: A bus belonging to Xiamen Bus Co Ltd had hit a school child on the pedestrian passing
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those resource‚(liabilities) and the remaining claim accruing to the owners(owners’ equity) statement of financial position is the formal term for the balance sheet. Equation form of balance sheet:- Assets=Liabilities+ Owners’ equity Report form and financial form the basic accounting identity can be rearranged to reflect the owner’s view point. Asset-Liability= owner’s equity Recording the value of the firm to the owner’s called owner’s equity is what remains after the liabilities are subtracted
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position of a company at a particular date by reporting the economic resources (assets)‚ the economic obligations (liabilities)‚ and equity. It reports a company’s resource structure (major classes and amounts of assets) and its financial structure (major classes and amounts of liabilities and equity). It is a detailed explanation of the basic accounting equation: Assets = Liabilities + Stockholders’ Equity. 2. The balance sheet information helps external users (a) assess the company’s liquidity
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he left the limited liability company in 2005. The "Limited liability company agreement" means any agreement (whether referred to as a limited liability company agreement‚ operating agreement or otherwise)‚ written‚ oral or implied‚ of the member or members as to the affairs of a limited liability company and the conduct of its business. A member or manager of a limited liability company or an assignee of a limited liability company interest is bound by the limited liability company agreement whether
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BUS670: Legal Environment Name: Instructor Name: Legal Underpinnings In case of breach of contract liability shall be limited or unlimited depending on the type of activity. There are five types of business organizations in the United States. These forms are sole proprietorship‚ a partnership‚ limited liability company‚ partnership‚ and limited liability company. Each of these formations business has advantages and disadvantages for the employer. There are different levels attributed
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