liability

(redirected from liabilities)
Also found in: Dictionary, Thesaurus, Legal, Financial, Encyclopedia, Wikipedia.
Health insurance The potential for paying claims based on use of an insured service
Malpractice All character of obligation, amenability, and responsibility for an act before the law

liability

Malpractice All character of obligation, amenability, and responsibility for an act before the law. See Corporate liability, Current liability, Limits of liability, Malpractice Product liability, Professional liability, Strict liability.
References in periodicals archive ?
Recto reported assets totaling P645,147,569.36 with liabilities at P89,823,089.54, with net worth at P555,324,479.82.
It is generally determined as of the earlier of the (1) first date occurring on or after the date on which the requirement to determine a disregarded entity's net value arises for which the partnership otherwise determines a partner's share of partnership liabilities under Regs.
This policy made it possible to complete their transaction and indemnify the seller for environmental liabilities associated with the site.
Hence, TEI agrees with the views expressed by the Board members who said that the proposed Interpretation would (a) be unduly complex, (b) prove difficult to apply in practice, and (c) result in systematic overstatement of tax liabilities. (2)
Prior to this Statement, guidance on governmental employer accounting and reporting for termination benefits was limited to one form of voluntary termination benefits--special termination benefits, which were defined as those offered "for a short period of time." The objective of this Statement is to provide guidance to governmental employers for measuring, recognizing, and reporting liabilities and expense/expenditures related to all termination benefits, including voluntary termination benefits, without limitation as to the period of time during which the benefits are offered, and involuntary termination benefits.
Policyholder Surplus (PHS): Sum remaining after all liabilities are deducted from assets.
Once potential liabilities and similar issues are identified, the purchaser must ensure that the purchase agreements are drafted to insulate the purchaser from these liabilities.
These liabilities and responsibilities are equally applicable to information issues.
Pros: C corporations protect shareholders from any liabilities and allow large earnings to be retained and reinvested in the growth of the business.
* Amortization method -- Amortize servicing assets or servicing liabilities in proportion to and over the period of estimated net servicing income or net servicing loss, and assess servicing assets or servicing liabilities for impairment or increased obligation based on fair value at each reporting date.
1, one crucial issue for the insurance industry remains unresolved and will occupy the IASB for the next few years--how to account for liabilities related to insurance contracts.