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Question:

What are the advantages and limitations of a Partnership as a form of business organization?

Answer:

  • Advantages:
    • Shared Responsibilities: Tasks and responsibilities are distributed among partners.
    • Combined Resources: Partners contribute financial and managerial resources, enhancing business potential.
    • Flexibility: Less regulatory compliance compared to companies allows operational flexibility.
  • Limitations:
    • Unlimited Liability: Partners are personally liable for debts, which poses significant risks.
    • Conflicts: Decision-making differences may lead to disputes among partners.
    • Limited Growth: Partnerships face constraints in raising large amounts of capital.


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  • Answered by Ekta Mehta
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  • Answered by Ekta Mehta
  • 4 months ago

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