A partner can withdraw from a partnership by any of the following means except:
A)Selling his/her interest to another person for cash.
B)Selling his/her interest to another person in exchange for assets.
C)Receiving cash from the partnership in the amount of his/her interest.
D)Receiving assets from the partnership in the amount of his/her interest.
E)Close the business and liquidate the assets under the mutual agency principle.

Question

Quizplus · Accepted Answer

Closing the business and liquidating assets is not a means of withdrawing from a partnership, but rather a means of dissolving the partnership. Withdrawal from a partnership involves a partner relinquishing their interest in the partnership while the partnership continues to exist.

A Partner Can Withdraw from a Partnership by Any of the Following