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What does liability mean?

What does liability mean?

Liability answers one question: if a business cannot pay what it owes, whose money is used to settle the bill? The answer depends on the business structure and on whether the law gives the business separate legal personality from its owners.

1.4.1a Limited liability Lesson

  1. GCSE
  2. /Business
  3. /1.4.1a Limited liability

Step-by-step lessons on Edexcel GCSE Business 1.4.1a Limited liability. Each one builds up to exam-style questions. Start by mastering business terminology and the functional areas (marketing, finance, operations, HR) before moving on to the extended, evaluation-heavy questions that carry the most marks.

Lessons