One of the disadvantages of partnerships is that:
A)the partners are not covered by life insurance.
B)all partners should have expertise in every area.
C)the partners are exposed to unlimited financial liability.
D)they are difficult to form and dissolve.

Question

Quizplus · Accepted Answer

Partners in a general partnership are exposed to unlimited financial liability, meaning they are personally responsible for the debts and obligations of the business. This can put their personal assets at risk.

One of the Disadvantages of Partnerships Is That