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What is liability in accounting terms?

A liability is something a person or company owes, usually a sum of money. Recorded on the right side of the balance sheet, liabilities include loans, acc...

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Knowledge Base

Latest insights and tutorials from the The Daily Horizon team.

How do you arrange ledger accounts?

In what order are accounts arranged in the general ledger? Why? Assets, Liabilities, and owner’s equity first, followed by revenue accounts, then expenses...

What happens to your 401k if your company closes?

When you make a contribution to your 401 (k) plan, your employer withholds the money from your paycheck and then sends it to the 401 (k) plan accounts to ...

How do you politely ask for clarification?

Tips for asking for clarification Admit you need clarification. Admitting you need more information makes the next step much easier for the person you ask...

What is total CL?

Total chlorine is the sum of free chlorine and combined chlorine. The level of total chlorine should always be greater than or equal to the level of free ...

Can business owners deduct home office expenses?

The Home Office Tax Deduction for Small-Business Owners. If you use part of your home regularly and exclusively for business-related activity, the IRS let...

What is a DBA question?

Questions about DBA experience and background Why did you leave your last DBA job? What are your top technical skills? Describe your workflow without dire...

Is forex legal in Iraq?

While Iraq has been plagued with war and economic problems in recent years, there is also one positive development: Iraq is now a country that is part of ...

What to do if someone falls in a nursing home?

It includes the following eight steps: Evaluate and monitor resident for 72 hours after the fall. Investigate fall circumstances. Record circumstances, re...

What does it mean to be highly accredited?

Adjective: (of a person, organization, or course of study) Officially recognized or authorized: “an accredited online high school”. Accreditation is very ...