A major weakness of a partnership is

Question

Quizplus · Accepted Answer

The major weakness of a partnership is the difficulty in liquidating or transferring ownership. Partnership is formed with mutual understanding and trust between the partners. However, if any partner wishes to leave the partnership or if a new partner needs to be added, there may be conflicts or difficulties in transferring ownership. This could result in legal complications and affect the smooth functioning of the business. Limited liability, access to capital markets, and low organizational costs are not necessarily weaknesses of a partnership.

A Major Weakness of a Partnership Is