Explain the nature of the liability of partners and the effect of a partnership agreement on a
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Explain the nature of the liability of partners and the effect of a partnership agreement on a partner’s liability to outsiders. How will the retirement of a partner affect those obligations?
PartnershipA legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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Generally partners face unlimited liability for their own actions and those of their partners That ...View the full answer
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Usman Nasir
I did Master of Commerce in year 2009 and completed ACCA (Association of Chartered Certified Accountants) in year 2013. I have 10 years of practical experience inclusive of teaching and industry. Currently i am working in a multinational company as finance manager and serving as part time teacher in a university. I have been doing tutoring via many sites. I am very strong at solving numerical / theoretical scenario-based questions.
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