Which of the following statements is true of a general partnership?
A) A general partnership is dissolved any time there is a change in the partners.
B) A general partnership must have at least one controlling partner.
C) A dissolution does not necessarily destroy the business of a partnership.
D) Unlike proprietorships, partnerships are taxable entities.
E) All partners in a general partnership have only limited liability for their organization's debts.

Question

Quizplus · Accepted Answer

A general partnership is dissolved any time there is a change in the partners. For example, if a partner dies, retires, or otherwise withdraws from an organization, the partnership is dissolved. Likewise, if a person is added as a new partner, there is a technical dissolution of the organization.

Which of the Following Statements Is True of a General