Abby,Adam,and Arnold Are Partners

question 9

Multiple Choice

Abby,Adam,and Arnold are partners.They have planned to continue the partnership even after the death of any one partner.To this end,the partners have:

• A)stipulated in their wills that their share of the partnership is bequeathed to the other two partners.
• B)purchased life insurance policies naming the other two partners as beneficiaries.
• C)created trust funds that can be used to pay off the heirs of the deceased partner.
• D)secretly signed documents to be opened only after the death that the deceased partner relinquishes all claims to the partnership.