A known liability is an obligation that is certain in existence and can usually be measured with reasonable accuracy. Examples include unpaid salaries, supplier invoices received, taxes payable, or loan installments due. Since the obligation is already identified, it should normally be recorded in the books without waiting for uncertainty to be resolved.
Knowledge Process Outsourcing (KPO)
Knowledge Process Outsourcing is the outsourcing of specialized, high-skill work that requires domain expertise and analytical ability. Examples include research, financial analysis, accounting support,...
Knowledge Capital
Knowledge capital refers to the value embedded in a company’s expertise, know-how, systems, intellectual ability, and organizational learning. It includes the experience of people,...
Knockdown Cost
Knockdown cost refers to a reduced or lowered cost achieved through efficiencies, redesign, process improvement, negotiation, or cost-saving measures. It may be used informally...
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