COMPANY LIMITED BY SHARES Definition

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COMPANY LIMITED BY SHARES is where the members' personal liabilities are limited to the par value of their shares. a company limited by guarantee.

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CASH BOOK is a book that records all payments and receipts of business transactions; whether by cash, check or credit card.

LONG-TERM LIABILITIES are liabilities of a business that are due in more than one year. An example of a long-term liability would be a mortgage payable.

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