A Partnership Continues in Existence Unless One of the Following

question 84

True/False

A partnership continues in existence unless one of the following happens: 1)all assets are distributed to the partners in liquidation of the partnership,or 2)one partner buys the interest of the second partner in a two partner partnership (resulting in a single owner of the entity).

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Definitions:

Free Association

A therapeutic method in psychoanalysis where the individual speaks their thoughts freely without self-censorship to delve into the unconscious.

Defense Mechanisms

In psychoanalytic theory, the ego’s protective methods of reducing anxiety by unconsciously distorting reality.

Inferiority Complex

A psychological phenomenon in which individuals feel deep-seated insecurity and inadequacy, often subconscious.

Preconscious

The part of the mind that contains information that is not currently in conscious awareness but can be easily brought into consciousness.