Which of the Following Statements Is False Concerning Partnership Liquidating

question 116

Multiple Choice

Which of the following statements is false concerning partnership liquidating distributions?

• A)A partner who receives a liquidating distribution can retain an interest in the partnership.
• B)A partnership agreement may restrict the sale of a partnership, making a liquidating distribution the only way a partner can close out his interest in the partnership.
• C)Liquidating a single partner's interest is similar in concept to a corporate redemption of a shareholder's interest.
• D)None of these statements are false.

---

Definitions:

Ethnocentric

Having the belief that one's own culture or ethnicity is superior to others, often leading to judging other cultures solely by the values and standards of one's own.

Job Embeddedness

The extent to which an employee is tied to their job and community, reducing the likelihood of turnover.

Multicultural Organization

An organization that values diversity and integrates various cultural perspectives into its operations, aiming to create an inclusive and equitable working environment.

Characteristics

Traits or features that distinguish a person, object, or phenomenon from others.