Does Partnership firm has a separate legal entity? Given reason in support of your answer.

Anurag Pathak
April 4, 2023
[CBSE] Fundamentals of Partnership Firm, Accountancy Class 12th

771 viewsApril 9, 2023[CBSE] Fundamentals of Partnership Firm Accountancy Class 12th

Anurag Pathak28.37K April 4, 2023 0 Comments

Does Partnership firm has a separate legal entity? Given reason in support of your answer.

Anurag Pathak Changed status to publish April 9, 2023

Add a Comment

1 Answer

Anurag Pathak28.37K Posted April 4, 2023 0 Comments

No, the Partnership firm does not have a separate legal entity from its partners.

Since the firm’s debts are payable from the personal assets of the partners if the firm is unable to repay its liabilities.

Anurag Pathak Answered question April 4, 2023

Add a Comment

You are viewing 1 out of 1 answers, click here to view all answers.

Anurag Pathak

Anurag Pathak is an academic teacher. He has been teaching Accountancy and Economics for CBSE students for the last 18 years. In his guidance, thousands of students have secured good marks in their board exams and legacy is still going on. You can subscribe his youtube channel and can download the Android & ios app for free lectures.

Articles: 8064

Telegram Channel

Telegram Channel

Does Partnership firm has a separate legal entity? Given reason in support of your answer.

1 Answer

Anurag Pathak

1 Answer

Anurag Pathak

Related Questions