Which of the following best describes a dissolution of a partnership?
A) It is a change in relation of partners by elimination of one.
B) It is the re-distribution of capital among partners.
C) It is the taking care of outstanding obligations.
D) It is a change in relation of partners by addition of one.

Question

Quizplus · Accepted Answer

Dissolution of a partnership refers to the termination of the partnership agreement, often by the elimination of one partner, which changes the relationship among the remaining partners.

Which of the Following Best Describes a Dissolution of a Partnership