CameraIcon
CameraIcon
SearchIcon
MyQuestionIcon


Question

Liability of partners in a partnership business is _________.


A
limited
loader
B
unlimited
loader
C
limited and unlimited
loader
D
none of these
loader

Solution

The correct option is B unlimited
In a general partnership, each partner has unlimited personal liability. Partnership rules usually dictate that whatever debts are incurred by the business, it is the legal responsibility of all partners to pay them off.

Business Law

Suggest Corrections
thumbs-up
 
0


similar_icon
Similar questions
View More


similar_icon
People also searched for
View More



footer-image