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FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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F3

Transcribed Image Text:64, The limited partnership is a Commercial Company, which comprises two categories of
partners:
Statement I: One or more general partners who shall be jaintly and severally liable for the limited
partnership's debts to the full extent of their property.
Statement Il: One or more limited partners whose liability for the partnership's debts shall be
limited to the amount of their contribution to the partnership's capital provided such amount has
been stated in the limited partnership's Memorandum of Association.
O Statement
Staterment I
Staternents I and II
Both statements and Il are not applicable.
Expert Solution
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