Which of the Following Is TRUE When a Partner Withdraws

question 24

Multiple Choice

Which of the following is TRUE when a partner withdraws his interest from the partnership?

• A) He is obliged to pay a bonus to the existing partners.
• B) The existing partners are obliged to pay a bonus to the withdrawing partner.
• C) The partner's capital account will be closed.
• D) He must get the book-value of his interest.

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Definitions:

Mentally Reviews

The process of consciously going over information or experiences in one's mind, often to prepare or assess.

Transfer Steps

Sequential actions taken to safely move a person from one place or position to another, often used in healthcare settings to prevent injury to patients and caregivers.

Own Strength

Referring to an individual's inherent physical or mental power and capacity for effort or endurance.

Articular Ends

The end parts of bones that come into contact with each other in a joint, often covered with cartilage to allow for smooth movement.