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Standard XI
Business Studies
Features of Joint Stock Company
Generally par...
Question
Generally partnership firm liability is _________.
A
limited
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B
unlimited
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C
situation does not arise
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D
none of the above
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Solution
The correct option is
B
unlimited
Option B is the correct answer.
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Similar questions
Q.
Generally a partnership firm liability is _________.
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The equity-based joint venture does not include
(a) Cooperative development
(b) Company
(c) Partnership
(d) Limited liability partnership
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A
B
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, a partnership firm, does not have a Partnership Deed. The firm wants to pay remuneration to the partners. How can it do so?
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When business of partnership is sold to a new firm, the liabilities not taken over by the new firm should be:
Q.
Name of the following:
(a) A partnership in which the liability of one or more partners is limited.
(b) A partnership which is set up for an indefinite period of time.
(c) The document containing the terms and conditions of a partnership.
(d) The partner who contributes capital but does not take active part in the management.
(e) Person who lends his name and goodwill for the benefit of a partnership firm.
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