Examlex
Which of the following is correct?
Individually Liable
The legal responsibility of a single person to pay off debts or fulfill obligations incurred.
Creditors
Creditors are individuals or entities that lend money or extend credit, and are owed repayment by debtors.
Capital Balance
The amount of money that a company has in its capital account, reflecting the total capital invested by shareholders and retained earnings.
Federal Income Taxes
Taxes imposed by the federal government on the annual earnings of individuals, corporations, trusts, and other legal entities.
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