Question
1. An act of a business partner which is done in the ordinary course of business of the partnership firm will bind the firm and
1. An act of a business partner which is done in the ordinary course of business of the partnership firm will bind the firm and its partners jointly and severally.
Explain liability of partners under partnership model. Also discuss its distinction from Limited Liability Partnership (LLP) business model. (10 marks)
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Financial Statement Analysis
Authors: Andrew P.C.
1st Edition
1520985002, 978-1520985008
