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Employee-related liabilities
Identify and account for the major types of employee-related liabilities
Education Loans
Financial loans provided to students to help cover the costs of post-secondary education, which typically have to be repaid with interest after graduation.
Parents Liable
Refers to the legal responsibility of parents for the actions and behaviors of their underage children.
Minor Children
Individuals under the age of legal adulthood, whose rights and responsibilities are significantly different from those of adults.
Legally Binding Contract
An agreement between parties that is enforceable by law.
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