Disadvantages of a partnership include:
A) Limited life.
B) Mutual agency.
C) Unlimited liability.
D) Co-ownership of property.
E) All of these answers are correct.

Question

Quizplus · Accepted Answer

All of these options are disadvantages of a partnership. A partnership has a limited life, meaning it dissolves when a partner dies or leaves the business. Mutual agency means that each partner can act on behalf of the partnership, potentially creating legal and financial risks. Partners also have unlimited liability, meaning they are personally responsible for the debts and obligations of the partnership. Lastly, co-ownership of property can lead to conflicts and disagreements among partners.

Disadvantages of a Partnership Include