Which of the Following Is NOT Considered to Be Dissolution

question 48

Multiple Choice

Which of the following is NOT considered to be dissolution by operation of law under the UPA?

• A) Bankruptcy of a partner.
• B) Expulsion of a partner according to the partnership agreement.
• C) Subsequent illegality of the partnership.
• D) Death of a partner.

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Definitions:

Imperfect Competitor

A market participant who does not meet the conditions of perfect competition, often having some control over the price of its product or service.

MRP Schedule

A table showing the marginal revenue product (MRP) which is the additional revenue generated from using one more unit of a resource.

Perfect Competitor

A theoretical market structure where numerous small firms compete against each other and goods are perfect substitutes, leading to the inability of firms to influence prices.

Imperfect Competitor

A firm or entity that has the ability to influence the price of the goods or services it sells, due to the lack of perfect competition in the market.