Does partnership firm has a separate legal entity? Give reason
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No, a partnership firm does not have a separate legal entity from its partners. Reason: Private assets of the partners can be used to meet the liabilities of the firm in case firm's assets are not adequate to meet its liabilities.
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Answered by
2
Answer:
No, a partnership firm does not have a separate legal entity from its partners. Reason: Private assets of the partners can be used to meet the liabilities of the firm in case firm's assets are not adequate to meet its liabilities.
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