Which of the following is not covered by the term "Property of the firm".

Property and rights and interest in property originally brought into the stock of the firm

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Property acquired by or for the firm

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Goodwill of the business

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Property of the partners

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Solution

The correct option is D Property of the partners
Property of the partners is not covered by the term "Property of the firm". Partners can carry on the business of partnership firm only with the properties which belongs to the firm and not with their personal property. Partners of the firm belongs to a separate domain from the property of the partners,

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