F3 64, The limited partnership is a Commercial Company, which comprises two categories ofpartners:Statement I: One or more general partners who shall be jaintly and severally liable for the limitedpartnership's debts to the full extent of their property.Statement Il: One or more limited partners whose liability for the partnership's debts shall belimited to the amount of their contribution to the partnership's capital provided such amount hasbeen stated in the limited partnership's Memorandum of Association.O StatementStaterment IStaternents I and IIBoth statements and Il are not applicable.

Partnership means where two or more person comes together to do some common business activity and…

64. The limited partnership is a Commercial Company, which comprises two categories of partners: Statement I: One or more general partners who shall be jointly and severally liable for the limited partnership's debts to the full extent of their property. Statement Il: One or more limited partners whhose liability for the partnership's debts shall be limited to the amount of their contribution to the partnersbip's capital provided such amount has been stated in the limited partnership's Memorandum of Association. Statement I O Staternent i Staterments I and I O Both statements and It are not applicable.

64. The limited partnership is a Commercial Company, which comprises two categories of partners: Statement I: One or more general partners who shall be jointly and severally liable for the limited partnership's debts to the full extent of their property. Statement Il: One or more limited partners whhose liability for the partnership's debts shall be limited to the amount of their contribution to the partnersbip's capital provided such amount has been stated in the limited partnership's Memorandum of Association. Statement I O Staternent i Staterments I and I O Both statements and It are not applicable.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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