Damage

Liability Insurance
Liability insurance provides protection from claims arising from injuries or damage to other people or property. It is essential for motor vehicle, home, and business owners. Business liability insurance premiums are deductible.
Spoilage
Spoilage refers to materials or goods that are rendered unusable or unsellable due to defects, damage, or expiration during the production process.

Accounting Terms Lexicon

Discover comprehensive accounting definitions and practical insights. Empowering students and professionals with clear and concise explanations for a better understanding of financial terms.