Which of the Following Is One of the Grounds for Which

question 1

Multiple Choice

Which of the following is one of the grounds for which a court will dissolve a partnership?

• A)If one of the partners dies.
• B)If the purpose of the partnership is or becomes illegal.
• C)If there has been persistent breach of the partnership agreement.
• D)If one of the partners is declared bankrupt.

---

Definitions:

Stated Value

The nominal value of a share of stock as determined by the issuing company, which may differ from its market value.

Common Stock

Shares entitling their holder to dividends that vary in amount and may even be missed, depending on the fortunes of the company.

Journal Entry

A record that captures the financial impact of a business transaction in the accounting system.

Stock Issuance

The process of making new shares available for sale by a company, often to raise capital.