ExamVeda
Login
Home

The liability of partners in a firm is

This question belongs to Commerce Business And Commerce
Business and Commerce
?

The liability of partners in a firm is _________.

Answer & Solution
Correct Answer: Option B
The liability of partners in a firm is Unlimited. Unlimited liability refers to the legal obligations general partners and sole proprietors because they are liable for all business debts if the business can't pay its liabilities.
Examveda
Question posted by Examveda
Community

Join the Discussion

No comments yet Be the first to discuss this question.
Keep Learning

Related Questions on Business and Commerce

Business means ________.
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
More Related Questions on Business and Commerce