Accounting · Partnership Accounts
A partnership is different from a limited company because:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1A partnership is a separate legal entity.
- 2A partnership has limited liability.
- 3Partners are jointly and severally liable for the partnership's debts.✓
- 4A partnership can issue shares to the public.
Correct answer
Partners are jointly and severally liable for the partnership's debts.
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