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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.
पर्याय
True
False
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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संबंधित प्रश्न
Indian Partnership Act was passed in the year...............................
Define 'partnership firm'. Explain its merits and demerits.
A Joint Stock Company can raise huge capital.
Distinguish between Partnership Firm Joint Stock Company
Write a word or a phrase or a term which can substitute the following.
A partner who gives his name to a partnership firm.
Features of Joint Stock Company?
Define Partnership Firm and explain its features
Distinguish between the following.
Joint Hindu Family firm and Partnership
Write short answer of the following.
Define partnership and state its important features.
State Whether the Following Statement Are True Or False (Give Reason).
A partnership agreement cen be verbal or written.
State Whether the Following Statement Are True Or False (Give Reason)
The liability of partners is limited.
Explain the merits of partnership.
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
(a) The organisation is a sole proprietorship firm
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Define the following business entities:
Partnership
