Absent an Agreement Otherwise,upon Dissolution,a Partner Is Entitled to Which

question 40

Multiple Choice

Absent an agreement otherwise,upon dissolution,a partner is entitled to which of the following after payment of partnership creditors?

• A) A share of profits in proportion to capital contribution
• B) A share of profits based on the degree of participation in management
• C) Under the UPA,repayment of his capital contribution during the winding up of the firm
• D) The UPA requires that the partners have an agreement or else they must seek a court order distributing the remaining assets

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Definitions:

Susceptible

Likely to be influenced or harmed by a particular thing or condition.

Parental Influences

The role and impact that parents have on the development of their children, including their behaviors, beliefs, and emotional well-being.

Similar Personalities

The degree to which individuals share the same traits, characteristics, and modes of behavior.

Role Confusion

The uncertainty felt by individuals who are unsure about their identity or future roles in society, often discussed in Erikson's stages of psychosocial development.