Business Studies, asked by zebrana424, 2 months ago

explain any four merits and four limitations of partnership firm ?

Answers

Answered by ashokbsita

Answer:

Merits :a Ease of formation and closure : There is no compulsion for registration of the firm. ... Demerits :a Unlimited liability : Partners personal resources can be used to repay business debt. b Limited resources : As there is restriction on numbers of partners so less capital contribution.

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