Sue Has Transferred Her Transferable Interest of the Partnership Business

question 55

Essay

Sue has transferred her transferable interest of the partnership business to her creditor to discharge her debt.However,Sue is an efficient manager and she still manages the business,even after the transfer.Is she still a partner?

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Definitions:

Fractions

Fractions represent a part of a whole or, more generally, any number of equal parts.

Lowest Terms

Refers to a fraction that has been reduced to its simplest form, where the numerator and denominator are as small as possible and have no common factors other than 1.

Fractions

Mathematical expressions representing parts of whole numbers, typically made up of a numerator and a denominator.

Pounds

A unit of currency used in the United Kingdom and other British territories, also known as GBP (Great Britain Pounds).