When a General Partnership Is Dissolved, Which of the Following

question 66

Multiple Choice

When a general partnership is dissolved, which of the following is a correct statement?​

• A)The partnership is terminated.
• B)The partners no longer have personal liability for the partnership debts.
• C)The partners no longer have authority to contract.
• D)Some of the partners may have the right to continue the partnership.

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Definitions:

Shelf Prospectus System

A regulatory provision allowing issuers to pre-register a new issue of securities, which can be sold at any time within a specified period.

Underwriting Expenses

Costs associated with assessing and accepting risk, such as those incurred by insurers or investment banks during the offering process of securities.

Bond Refunding

The process of refinancing an existing bond issue by raising new debt at lower interest rates to pay off the old bonds before they mature.

Yield Curve

A graph that plots the interest rates of bonds having equal credit quality but differing maturity dates, typically showing the relationship between short-term and long-term bond yields.