Q13
Liability of partners in respect of the firms debts is _______.
A.
limited up to the amount of his capital in the business
B.
Unlimited
AnswerC.
limited up to the amount of guarantee given by the partner
D.
limited up the amount of his capital and loan to the firm if any
Answer: Option B
Solution
Answer: Option B
Solution:
Partners of typical partnership firms have unlimited liability towards their collective debts and legal consequences.