A major problem with partnerships is limited liability.Each partner is
personally liable for his or her own actions, but not for the actions of all the
partners.

Question

Quizplus · Accepted Answer

The statement is incorrect. In a partnership, every partner is fully liable for the actions of all the partners in the business. This means that each partner is personally responsible for any debts or obligations incurred by the partnership, not just their own actions.

A Major Problem with Partnerships Is Limited Liability