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When liabilities of partners are unlimited that implies
  • a)
    Not liable for any loss in the partnership
  • b)
    Only to the extent of capital introduced
  • c)
    Only 50 % of Loss occurred
  • d)
    His private assets can also be used for paying off the firm’s debt
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
When liabilities of partners are unlimited that impliesa)Not liable fo...
Mostly, the liability of the partners of a firm is unlimited. Their personal properties can be disposed off to pay the debts of the firm if required. The creditors can claim their dues from any one of the partner or from all of them, meaning partners are liable:
• Individually
• Collectively
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When liabilities of partners are unlimited that impliesa)Not liable for any loss in the partnershipb)Only to the extent of capital introducedc)Only 50 % of Loss occurredd)His private assets can also be used for paying off the firm’s debtCorrect answer is option 'D'. Can you explain this answer?
Question Description
When liabilities of partners are unlimited that impliesa)Not liable for any loss in the partnershipb)Only to the extent of capital introducedc)Only 50 % of Loss occurredd)His private assets can also be used for paying off the firm’s debtCorrect answer is option 'D'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about When liabilities of partners are unlimited that impliesa)Not liable for any loss in the partnershipb)Only to the extent of capital introducedc)Only 50 % of Loss occurredd)His private assets can also be used for paying off the firm’s debtCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for When liabilities of partners are unlimited that impliesa)Not liable for any loss in the partnershipb)Only to the extent of capital introducedc)Only 50 % of Loss occurredd)His private assets can also be used for paying off the firm’s debtCorrect answer is option 'D'. Can you explain this answer?.
Solutions for When liabilities of partners are unlimited that impliesa)Not liable for any loss in the partnershipb)Only to the extent of capital introducedc)Only 50 % of Loss occurredd)His private assets can also be used for paying off the firm’s debtCorrect answer is option 'D'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12. Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.
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