Question

6) Explain the limitations of Pustresshup firm​

Answer 1

Answer:

The Major Limitations of Partnership Firm are as follows:

(i) Uncertainty of duration: ...

(ii) Risks of additional liability: ...

(iii) Lack of harmony: ...

(iv) Difficulty in withdrawing investment: ...

(v) Lack of public confidence: ...

(vi) Limited resources: ...

(vii) Unlimited liability: