A partners whose liability goes beyond his capital is known as
Question 1 Report
A partners whose liability goes beyond his capital is known as
Answer Details
A partner whose liability goes beyond his capital is known as a general partner. This means that the general partner is personally liable for any debts or obligations incurred by the partnership, even if their personal assets must be used to settle these debts. In contrast, a limited partner has limited liability, meaning that their personal assets are protected and they are only liable for the amount of capital they have contributed to the partnership.
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