A withdrawing partner is entitled to:
A)Receive exemption from liability for company losses.
B)Receive undistributed profits.
C)Be exempt from personal taxes.
D)Be exempt from outstanding debts.

Question

Quizplus · Accepted Answer

A withdrawing partner is entitled to receive their share of any undistributed profits that have been earned by the partnership up until the time of their withdrawal. They are not automatically exempt from liability for company losses, personal taxes, or outstanding debts of the partnership.

A Withdrawing Partner Is Entitled To