LIMITED LIABILITY Definition

Bookmark and Share

LIMITED LIABILITY is one that does not go beyond the owners investment in the business.

Learn new Accounting Terms

OCBOA see Other Comprehensive Basis of Accounting.

COMMERCIAL INVOICE, generally, is the sellers bill of sale for the goods sold, specifying type of goods, quantity and price of each type and terms of sale. In import/export, it represents a complete record of the transaction between exporter and importer with regard to the goods sold. Also reports the content of the shipment and serves as the basis for all other documents about the shipment.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.