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State with Reasons Whether the Following Statement True Or False. in a Partnership the Liability of Every Partner of a Firm is Unlimited. - Organisation of Commerce and Management

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प्रश्न

State with reasons whether the following statement true or false.

In a partnership the liability of every partner of a firm is unlimited.

विकल्प

  • True 

  • False 

MCQ
सत्य या असत्य

उत्तर

In a partnership the liability of every partner of a firm is unlimited : True
Explanation: The liability of every partner in a partnership firm is unlimited. This implies that the personal property of each partner can be used for paying business debts if the assets of the business are not sufficient to pay them off.

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Concept of Partnership
  क्या इस प्रश्न या उत्तर में कोई त्रुटि है?
अध्याय 1: Forms of Business Organisations - True or false [पृष्ठ ३९]

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मायकल वाझ Organisation of Commerce and Management (OCM) [English] 12 Standard HSC Maharashtra State Board
अध्याय 1 Forms of Business Organisations
True or false | Q 13 | पृष्ठ ३९

संबंधित प्रश्न

Indian Partnership Act was passed in the year...............................


In partnership the liability of partners of a firm is unlimited.

 


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Long answer type question.

Define Joint Stock Company and explain its features.


Write the word. or phrase or tenn which can substitute the following statement~:

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Write short answer of the following.
Define partnership and state its important features.


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State Whether the Following Statement Are True Or False (Give Reason)

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Explain the limitations of partnership.


In which form of organisation is a trade agreement made by one owner binding on the others? Give reasons to support your answer.


The business assets of an organisation amount to Rs. 50,000 but the debts that remain unpaid are Rs. 80,000. What course of action can the creditors take if
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Define the following business entities:

Partnership


The Partnership Act limits the maximum number of partners in a non-banking partnership firm to ______.


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