Assertion (A): In partnership firm, the private assets of the partners can also be used to pay off the firm's debts. Reason (R): The liability of the partners for acts of the firm is limited. Choose the correct option from the following: A). Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A). B). Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A). C). Assertion (A) is false, but Reason (R) is true. D). Assertion (A) is true, but Reason (R) is false.

The correct answer is Assertion (A) is true, but Reason (R) is false.. In a general partnership, the liability of the partners is unlimited. Therefore, Reason (R) is false, while Assertion (A) is true as private assets can be attached to pay off firm debts.

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Assertion (A): In partnership firm, the private assets of the partners can also be used to pay off the firm's debts. Reason (R): The liability of the partners for acts of the firm is limited. Choose the correct option from the following:

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