Liability of partners in respect of the firm’s debt is ______.

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KollegeApply · Accepted Answer

Liability of partners in respect of the firm’s debt is unlimited. Explanation: According to the Indian Partnership Act, 1932 the liability of partners in a general partnership is: • Unlimited – meaning partners are personally liable for the debts of the firm. • If business assets are insufficient to cover debts, partners may have to pay from their personal property.

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