alleryStart learning →Until what event does a retired partner stay liable to third parties for later firm acts?
APayment of goodwill
BThe next audit date
CSettlement of capital
DPublic notice given
Answer & Solution
Correct answer: D. Public notice given
Section 32 keeps the retiring partner liable as a partner to third parties until public notice of the retirement is given.
Keep practising Partnership Accounts
Browse all Partnership Accounts questions for CA Foundation, or explore more Accounting topics.
Related questions
In an LLP, is a partner liable for another partner's unauthorised actions?An LLP partner's liability is limited to what?Which authority registers and controls LLPs in India?What minimum capital is needed to form an LLP?What is the minimum number of members needed to start an LLP?What is the upper limit on partners in an Indian LLP?What does perpetual succession mean for an LLP?Which Act is stated not to apply to Indian LLPs?