WAEC Accounting 2012 Objective — Question 30
Question 30 of 50 from the West African Examinations Council (WAEC) Accounting 2012 Objective paper, with the correct answer and a full explanation.
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Partners whose liabilities are restricted to their financial contribution to the partnership in the event of winding up are
- A. ordinary partners
- B. limited partnersCorrect
- C. dormant partner
- D. sleeping partners
Explanation
Limited partners are partners whose liability in the business is limited to the amount contributed as capital.
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