State True or False. The partners are not liable to repay any debt.

True

No worries! We‘ve got your back. Try BYJU‘S free classes today!

False

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Open in App

Solution

The correct option is B
False

False. The partners are liable to repay debts even from their personal belongings, in case if the assets of the company are not sufficient to meet the debts.

Suggest Corrections

Similar questions

The firm comes to an end immediately whenever any partner dies. State true or false.

State True or False. In a partnership organisation, the decisions are not taken by mutual consent of the partners.

Question 9.4

State whether the following statements are true or false. If false, correct them.

Air does not occupy any space.

Join BYJU'S Learning Program