Assertion (A)- Creditors can claim their dues from any one of the partners or from all of them.
Reason(R) - Partners have limited liability.
Reason(R) - Partners have limited liability.
Answer & explanation
Correct answer: option 3
Mostly, the liability of the partners of a firm is unlimited. Their personal properties can
be disposed off to pay the debts of the firm if required. The creditors can claim their
dues from any one of the partner or from all of them, meaning partners are liable:
Individually
Collectively
Individually
Collectively