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Answer in one sentence only. What is liability of a partner? - Book Keeping and Accountancy

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प्रश्न

Answer in one sentence only.

What is liability of a partner?

एक पंक्ति में उत्तर

उत्तर

Liability of a partner (except minor partner) is unlimited.

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Partnership
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अध्याय 1: Introduction to Partnership and Partnership Final Accounts - Exercise 1.1 (Objective Questions) [पृष्ठ ५३]

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बालभारती Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
अध्याय 1 Introduction to Partnership and Partnership Final Accounts
Exercise 1.1 (Objective Questions) | Q I. F. 10) | पृष्ठ ५३

संबंधित प्रश्न

Liability of partners in a partnership business is ________.


Write the word/phrase/term, which can substitute the following sentence.

Persons who form the partnership firm.


Write the word/phrase/term, which can substitute the following sentence.

Partnership agreement in written form.


Liabilities of Partners in Partnership firm is ______.


Answer in one sentence only.

How many partners are required to form a partnership firm?


Partnership Firm is a trading concern.


What is the main objective of the Partnership Firm?


Which of the following is not considered a tool for formative assessment?


Which one of the following is correctly matched?


Find the Odd one.


Write the word/phrase/term, which can substitute the following sentence.

Under this method, capital balances of partners remain constant.


State whether the following statement is True or False with reason:

A partnership firm is a Non-Trading Concern.


ANALOGY

Knot in a thread : ______ friction :: Ball : ______ friction


Answer in one sentence only: 

What is fluctuating capital?


Answer in one sentence only:

What rate of interest is allowed on a partner’s loan in the absence of an agreement?


Answer in one sentence only:

If the Partnership Deed is silent, in which ratio the partners will share the profit or loss?


Do you agree/disagree with the following statements.

Partnership Firm is a trading concern.


Do you agree/disagree with the following statement.

When Partnership Deed is silent, Partners share profits of the firm according to capital ratio.


The liability of partners in a partnership business is ______.


Write the word/phrase/term, which can substitute the following sentence.

Process of entering the name of partnership firm in the register of Registrar.


Write the word/phrase/term, which can substitute the following sentence.

Partnership agreement in written form.


Write the word/phrase/term, which can substitute the following sentence.

Proportion in which partners share profits.


State whether the following statement is True or False with reasons:

Partnership firm is a Non-Trading Concern.


State whether the following statement is True or False with reasons:

Profit and Loss Account is a Real Account.


The Indian Partnership Act is in force since ______ 


Answer in one sentence only:

What are the objectives of the Partnership firm?


Find odd one.


The Indian Partnership act is in force since ______.


In the absence of an agreement, interest on loan advanced by the partner to the firm is allowed at the rate of ______.


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