Economic Glossary | Unlimited liabilities | Bankers Algo
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Economic Glossary

    Unlimited liabilities

A condition in which owners are personally held responsible for any and all debts created by a business. Proprietorships and partnerships are the two kinds of businesses in which owners have unlimited liability. The primary problem with unlimited liability is that it limits the size of a business and prevents it from taking advantage of large scale production.


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Word of the day

Contrive(v)

Meaning:

Invent, design

Synonyms: come up with, concoct, construct, cook up, create

Antonyms: disorganize

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A train of length 150 m takes 10 sec to cross another train 100 m long coming from the opposite direction. If the speed of first train is 30 km/hr. what is the speed of second train?

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