Question

Q.. Explain any two limitations of
partnership form of business organisation.​

Answer 1

Limitations of Partnership Form: Unlimited liability:

The major disadvantage of such firm is that partners have unlimited liability. Limited capital: Such firms have limited capacity to raise capital because of the limit of maximum partners. Conflicts: Misunderstanding and conflicts may arise among the partners.

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Answer 2

Explanation:

1. uncertainty of duration.2. lack of harmony.