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:

National Emergency

A situation of urgent crisis that poses a significant threat to the health, safety, or well-being of the nation, requiring immediate governmental action.

Presidential Interventions

Instances when a sitting U.S. President intervenes in labor disputes, often to prevent or end strikes that can have significant economic or social impacts.

Public Interest

The welfare or well-being of the general public, often used as a consideration in law, policy-making, or governance.

Public Sector

The portion of an economy that is controlled by the government, including various public services and enterprises.