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Question
Answer in one sentence only.
What is liability of a partner?
Solution
Liability of a partner (except minor partner) is unlimited.
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\[\ce{CH3 \underset{sulfate}{\underset{Ethyl hydrogen}{-CH2 -OS}}O3H->[H -OH][\Delta]H2SO4}\]
\[\begin{array}{cc}
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|\\
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|\\
\ce{H}\\
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\[\begin{array}{cc}
\phantom{.........}\ce{CH3}\\
\phantom{......}|\\
\ce{CH2=C}\\
\phantom{......}|\\
\phantom{.........}\ce{CH3}\\
\end{array}\]
\[\begin{array}{cc}
\ce{CI}\\
|\\
\phantom{,,,,,,,,}\ce{CI-C-CI+H-CI}\\
|\\
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\[\begin{array}{cc}
\phantom{.}\ce{CH3}\\
|\phantom{..}\\
\ce{\underset{2-Methylpropane}{H3C -CH -}CH3}
\end{array}\]
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Profit and Loss Account is a Real Account.
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What are the objectives of the Partnership firm?
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Answer in one sentence only.
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