Which of the following could result in the termination and liquidation of a partnership?1) Partners are incompatible and choose to cease operations.2) There are excessive losses that are expected to continue.3) Retirement of a partner.
A) 1 only.
B) 1 and 2 only.
C) 2 and 3 only.
D) 3 only.
E) 1, 2, and 3.

Question

Quizplus · Accepted Answer

All listed reasons can lead to the termination and liquidation of a partnership: incompatibility, excessive losses, and retirement of a partner.

Which of the Following Could Result in the Termination and Liquidation