The liability of a partnership in respect of the debts of the firm is limited to
A. Upto the amount of his capital in the firm
B. Upto the amount of his own capital and personal assets in the firm
C. His capital in the firm and the amount of loans given to the firm
D. Upto the amount assured to cover the losses
Answer: Option B
This Question Belongs to Commerce >> Business And Commerce
A. Commerce
B. Industry and commerce
C. Trade and commerce
D. Selling and buying of goods
Which of the following is not an economic activity?
A. A doctor practicing
B. A lawyer practicing law
C. A professional cricketer playing cricket
D. A student playing cricket
Which of the following is an extractive industry?
A. Cattle breeding
B. Forest cultivation
C. Hunting
D. Flour mills
Which of the following is not a manufacturing industry?
A. Iron and steel works
B. Flour Mills
C. Fruit canning
D. Mining
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