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Accounting for Companies: 1

The Background
  • D. E. Turner
  • P. H. Turner
Chapter

Abstract

Most of those who form companies do so in order to obtain limited liability. This means that, if the company is would up and the assets are not sufficient to pay the debts, the shareholders are only liable for a limited amount (none, in fact, if their shares are fully paid). It is the creditors themselves who suffer the loss.

Keywords

Limited Liability Share Capital Sole Proprietor Preference Share Sole Proprietorship 
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.

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Copyright information

© D. E. Turner and P. H. Turner 1991

Authors and Affiliations

  • D. E. Turner
  • P. H. Turner

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