A Court Does Not Have the Power Dissolve a Partnership

question 22

Multiple Choice

A Court does not have the power dissolve a partnership on the grounds of:

• A)The retirement of a partner.
• B)The permanent incapacity of a partner to perform normal partnership duties.
• C)Wilful or persistent breach of the partnership agreement.
• D)Dissolution being a just and equitable option.

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Definitions:

Lease Payment

Regular payments made by a lessee to a lessor for the use of an asset over a specified period.

General Journal Entry

The process of recording financial transactions in the general journal, part of the double-entry bookkeeping system.

Convertible Bonds

Bonds that can be converted into a predetermined number of the issuing company's shares at certain times during their life, usually at the discretion of the bondholder.

Bearer Bonds

A type of fixed-income security that is owned by the holder or bearer, instead of being registered to a specific owner.