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

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 ...

For nearly a decade, Toni Matthews-El has published business topics ranging from cloud communication software to best steps for establishing your own LLC. In addition to Forbes Advisor, she's ...

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 ...

As a business professional, you’re responsible for the knowledge, expertise and services you provide to clients. As a result, clients can take legal action against you and your company when they ...