In which of the following forms of doing business does the death of one of the owners cause dissolution?
A)partnership
B)S Corporation
C)C Corporation
D)closely-held corporation
E)nonprofit corporation

Question

Quizplus · Accepted Answer

In a partnership, the business is owned by two or more individuals who share profits and losses. If one of the partners dies, the partnership is dissolved, and the remaining partners must liquidate the business assets and settle any outstanding debts. The deceased partner's share of the business is typically inherited by their beneficiaries or heirs. In contrast, a corporation (whether C or S) is a separate legal entity, and the death of one of its shareholders does not necessarily trigger dissolution or liquidation.

In Which of the Following Forms of Doing Business Does