Fred is a CA and a partner in the accounting firm Jones, Black, Adams LLP. He was recently successfully sued for negligence in the preparation of a client's tax return. As a result

Fred's personal assets and the accounting firm's assets can be taken to pay the claim

the assets of the accounting firm and all the partners personal assets can be taken to pay the claim only the assets of the accounting firm and be taken to pay this claim

Fred, the accounting firm and the CA association are all liable for these loses only

Fred's personal assets can be taken to pay this claim