alleryUnder Section 13(f), a partner must indemnify the firm for loss caused by his:
AOrdinary errors of judgement
BWilful neglect in the conduct of the firm's business
CCapital withdrawal
DLawful business decisions
Answer & Solution
Correct answer: B. Wilful neglect in the conduct of the firm's business
Section 13(f) makes a partner liable to indemnify the firm for any loss caused by his wilful neglect in conducting the firm's business.
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