SOLUTION
No, a partnership firm does not have a separate legal entity from its partners.
Reason: Private assets of the partners can he used to meet the liabilities of the firm in case firm’s assets are not adequate to meet its liabilities.
SOLUTION
No, a partnership firm does not have a separate legal entity from its partners.
Reason: Private assets of the partners can he used to meet the liabilities of the firm in case firm’s assets are not adequate to meet its liabilities.