Imputed Liability

Vicarious Liability
Vicarious liability is a legal concept where one party is held liable for the actions or omissions of another person, even if the liable party did not personally commit the act. This is often seen in employer-employee relationships, where employers can be held accountable for the actions of their employees performed within the scope of their employment.

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.