Unless There Is an Agreement to the Contrary in the Partnership

question 10

Multiple Choice

Unless there is an agreement to the contrary in the partnership agreement, which of the following events will automatically bring a partnership to an end?

• A) The personal bankruptcy of a partner.
• B) The death of a partner.
• C) The expiry of the term of a fixed-term contract.
• D) The willful and persistent breach of the partnership agreement by a partner.
• E) The personal bankruptcy of a partner, the death of a partner or the expiry of the term of a fixed-term contract.

---

Definitions:

Payable Account

An accounting record that shows the total amount of money owed to creditors for goods, services, or loans provided.

Employee Health Insurance

An insurance coverage that provides benefit payments for healthcare services to employees, often paid for wholly or in part by employers.

Retirement Program

A financial plan that provides income to individuals after they have ceased working, often involving contributions from both the employer and employee.

Gross Salary

The total earnings of an employee before any deductions like taxes and retirement contributions.