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  • Afar Accounting 6

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    A corporation's financial liabilities include all current and future debts it owes, such as loans used to finance operations or fund expansions. Owners of an LLC are called members, who can be individuals, other businesses, or foreign entities without restriction. A husband and wife wishing to jointly own a business in the Philippines can form a partnership, corporation, or LLC to both be owners, or a sole proprietorship with only one as the owner.

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    A corporation's financial liabilities include all current and future debts it owes, such as loans used to finance operations or fund expansions. Owners of an LLC are called members, who can be individuals, other businesses, or foreign entities without restriction. A husband and wife wishing to jointly own a business in the Philippines can form a partnership, corporation, or LLC to both be owners, or a sole proprietorship with only one as the owner.

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    5 views1 page

    Afar Accounting 6

    Uploaded by

    micolle
    A corporation's financial liabilities include all current and future debts it owes, such as loans used to finance operations or fund expansions. Owners of an LLC are called members, who can be individuals, other businesses, or foreign entities without restriction. A husband and wife wishing to jointly own a business in the Philippines can form a partnership, corporation, or LLC to both be owners, or a sole proprietorship with only one as the owner.

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    What are the financial liabilities of a corporation?

    What are liabilities? Liabilities include everything your business owes, presently and in
    the future. These include loans, legal debts or other obligations that arise in the course
    of business operations. The loans are often used to finance your operations, or pay for
    expansions or new equipment.

    Who is an owner of a corporation with limited liability?


    Owners of an LLC are called members. Most states do not restrict ownership, so
    members may include individuals, corporations, other LLCs and foreign entities. There
    is no maximum number of members. Most states also permit “single-member” LLCs,
    those having only one owner.Jan 

    Who is an owner of a corporation with limited liability?


    Owners of an LLC are called members. Most states do not restrict ownership, so
    members may include individuals, corporations, other LLCs and foreign entities. There
    is no maximum number of members. Most states also permit “single-member” LLCs,
    those having only one owner.Jan 

    Can husband and wife form a corporation in the Philippines?


    If a husband and wife wish to own a business together, they must either form a
    partnership, corporation, or limited liability company (in order to have each of them be
    an owner of the business) or a sole proprietorship (in which case only one of them will
    be an owner of the business).

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