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Which firm is a legal and accountable entity?

26. Which firm is a legal and accountable entity?

1. Sole Proprietorship
2. HUF
3. Partnership Entity
4. Co-Operative Society

Answer: C) Partnership Entity

Explanation:

The partnership entity is a legal entity and accountable entity. A legal entity has the legal capacity to enter into agreements or contracts, assume obligations, incur and pay debts, sue and be sued in its own right, and be held responsible for its actions.