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Questions and Answers
Which one of the following best describes partnership dissolution?
Which one of the following best describes partnership dissolution?
- The formation of a business partnership
- The termination of a business partnership (correct)
- The expansion of a business partnership
- The reorganization of a business partnership
What happens during partnership dissolution?
What happens during partnership dissolution?
- The partners transfer their assets to a new business
- The partners sell their shares to new partners
- The partners distribute the assets and liabilities of the partnership (correct)
- The partners divide the profits
Why might a partnership be dissolved?
Why might a partnership be dissolved?
- To increase the size of the partnership
- To form a new partnership with different partners
- To resolve conflicts between partners (correct)
- To avoid paying taxes
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