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P1 C6 RETIREMENT/DEATH OF A PARNER — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C6 RETIREMENT/DEATH OF A PARNER1 Mark
Question
An active partner is required to give public notice regarding his retirement why?
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Answer

An active partner is required to give public notice regarding his retirement because, otherwise he is responsible for the liabilities towards third parties arising from the activities after his retirement.

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