Joint Liability Means

question 70

Multiple Choice

Joint liability means:

• A)liability of a corporation but not the shareholders
• B)the same as several liability
• C)liability shared by a number of persons, each of whom is personally liable for the full amount of a debt
• D)liability shared equally between two persons
• E)liability of directors and the corporation they represent

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Definitions:

Cash Collected

The total amount of cash received by a business during a specific period, including revenues and other income streams.

Credit Sales

transactions where goods or services are sold to a customer with payment to be received at a later date.

Cash Receipts

The total amount of cash collected by a business during a defined period, including revenues from sales, loans, investments, and other sources.

Sales Forecast

An estimate of the amount of sales a business expects to achieve in a certain period, based on historical data, market analysis, or other methods.