Which of the Following Is Not a Necessary Action That

question 67

Multiple Choice

Which of the following is not a necessary action that the partnership must take upon the death of a partner?

• A) Determine the net income or net loss for the year to date.
• B) Discontinue business operations.
• C) Close the books.
• D) Prepare financial statements.

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Definitions:

Neuroticism

A personality trait associated with experiencing negative emotions more frequently and intensely than average, including anxiety, depression, and irritability.

Impulsivity

A tendency to act on a whim, displaying behavior characterized by little or no forethought, reflection, or consideration of the consequences.

Alcohol Myopia

A cognitive condition induced by alcohol consumption, characterized by a narrowed focus of attention and impaired judgment.

Intoxicated

A state of being under the influence of substances, such as alcohol or drugs, leading to altered mood, cognition, and motor function.