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    • Question : Debt which the firm owes to outsiders are called Option 1: Partner's debt Option 2: Firm's debt Option 3: Third party debt Option ...
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    Question : Debt which the firm owes to outsiders are called

    Option 1: Partner's debt

    Option 2: Firm's debt

    Option 3: Third party debt

    Option 4: None of the above

    Team Careers360 3rd Jan, 2024
    Answer
    Answer (1)
    Team Careers360 4th Jan, 2024

    Correct Answer: Firm's debt


    Solution : According to Section 49 of the Indian Partnership Act, 1932, Firm's debt is a debt which the firm owes to outsiders. Hence, the correct option is 2.

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