Which of the following is a disadvantage of a general partnership?
A) A partner who withdraws from a general partnership cannot be held liable for any debts the firm had at the time of withdrawal.
B) Compared to the other forms of ownership, the paperwork and costs involved in forming a general partnership are the most extensive.
C) The partners in a general partnership are exposed to double taxation.
D) If a current partner withdraws from a general partnership, the relationships among the participants will clearly change.

Question

Quizplus · Accepted Answer

In a general partnership, the withdrawal of a partner can significantly alter the dynamics and operations of the business, affecting relationships and potentially leading to the dissolution of the partnership.

Which of the Following Is a Disadvantage of a General