Maharashtra State BoardHSC Arts 12th Board Exam
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Co-venturers’ Liability Is_________. - Book Keeping and Accountancy

MCQ

Co-venturers’ liability is_________.

Options

  • limited

  •  fixed
     
  •  unlimited

     
  •  specific

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Solution

Co-venturers’ liability is limited.

Explanation:

Joint venture is a form of business similar to a partnership firm, where two or more persons or organisations join hands to work-out some specific event. However, unlike the partners, the liability of co-venturers is limited to a particular venture only.

Hence, the correct answer is option (a).
Concept: Meaning and Definitions of Partnership and Partnership Deed
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