The partner whose liability goes beyond his capital is a

Assessment: WAEC SSCE - Financial Accounting - 2019 (Objective) Subject: Financial Accounting

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The partner whose liability goes beyond his capital is a 

Answer Details
A general partner is a type of business partner whose liability goes beyond their capital. This means that if the business is sued or incurs debt, the general partner is personally responsible for paying those debts, even if they go beyond the amount of money they have invested in the business. In simple terms, a general partner is fully responsible for the financial obligations of the business, unlike a limited partner whose liability is limited to the amount of money they have invested. So, if you are a general partner in a business, you are responsible for all of the debts and obligations of the business, even if they are more than the amount of money you have invested.
Read lesson note on Partnership Accounts (WAEC)
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