Which statement regarding the ownership of assets in different entities is correct?

The statement regarding partners in an ordinary firm jointly owning the firm's assets is accurate because, in a partnership, the assets of the business are owned jointly by the partners. This means that each partner has an equal right to the firm's assets and, in the event of dissolution or winding up of the partnership, the assets will be divided according to the partnership agreement or, if none exists, according to the partners' respective shares.

In contrast, shareholders of a company do not have direct ownership of a company's assets. Instead, they own shares in the company, which reflect their interest in the company's overall value rather than joint ownership of specific assets. Their ownership is limited to the value of their shares, and they do not have rights over the company's assets directly.

Directors also do not own the company's assets. Their role is to manage and make decisions on behalf of the company, but they do not hold ownership rights to the assets themselves. Their authority is derived from their position, not from ownership.

Lastly, debenture holders are creditors of the company. They provide loans to the company and, in return, receive interest on those loans. They do not hold ownership rights over the company's assets either; instead, they have a right to be paid back the borrowed