{"id":55294,"date":"2024-04-16T00:24:56","date_gmt":"2024-04-16T00:24:56","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=55294"},"modified":"2024-04-16T00:24:56","modified_gmt":"2024-04-16T00:24:56","slug":"the-liability-of-partners-is","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-liability-of-partners-is\/","title":{"rendered":"The liability of partners is . . . . . . . . ."},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Limited&#8221; option2=&#8221;Unlimited&#8221; option3=&#8221;Both limited and unlimited&#8221; option4=&#8221;None of these&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is B. Unlimited.<\/p>\n<p>A partnership is a business owned by two or more people. The partners share the profits and losses of the business. The liability of partners is unlimited, which means that each partner is personally liable for the debts of the partnership. This means that if the partnership cannot pay its debts, the partners may have to sell their personal assets to pay off the debts.<\/p>\n<p>Option A is incorrect because the liability of partners is not limited. Option C is incorrect because the liability of partners is not both limited and unlimited. Option D is incorrect because the liability of partners is unlimited.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Limited&#8221; option2=&#8221;Unlimited&#8221; option3=&#8221;Both limited and unlimited&#8221; option4=&#8221;None of these&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-55294","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The liability of partners is . . . . . . . . .<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-liability-of-partners-is\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The liability of partners is . . . . . . . . .\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Limited&#8221; 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