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Question
What is the major disadvantage of a general partnership?
What is the major disadvantage of a general partnership?
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Solution
There are impediments to a general partnership, essentially risk. General accomplices/partners are by and by at risk for the business obligations and liabilities. Each accomplice is additionally liable for the obligations brought about by the activities of different accomplices. On account of this possible individual risk, general associations/partnerships are restricted in their capacity to fund-raise and draw in financial backers.
Also see:
- MCQs on Partnership
- What Is Partnership?
- Difference Between Sole Proprietorship and Partnership
- Nature of Partnership
Stay tuned to BYJU’S to learn similar Commerce Questions.
There are impediments to a general partnership, essentially risk. General accomplices/partners are by and by at risk for the business obligations and liabilities. Each accomplice is additionally liable for the obligations brought about by the activities of different accomplices. On account of this possible individual risk, general associations/partnerships are restricted in their capacity to fund-raise and draw in financial backers.
Also see:
- MCQs on Partnership
- What Is Partnership?
- Difference Between Sole Proprietorship and Partnership
- Nature of Partnership
Stay tuned to BYJU’S to learn similar Commerce Questions.
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