A partner can withdraw from a partnership by
A)Selling his/her interest to another person who pays for it in cash
B)Selling his/her interest to another person who pays for it with non-cash assets
C)Receiving cash or other assets of the partnership equal to the amount of his/her capital account
D)Receiving cash or other assets of the partnership greater than the amount of his/her capital account
E)All of these

Question

Quizplus · Accepted Answer

All of these options are ways in which a partner can withdraw from a partnership. Option A involves selling the interest for cash, option B involves selling the interest for non-cash assets, and options C and D involve the partner receiving assets from the partnership equal to or greater than their capital account. Therefore, the best choice is E, all of these.

A Partner Can Withdraw from a Partnership by