During the Dissolution of a Partnership That Will Be Continued

question 49

Multiple Choice

During the dissolution of a partnership that will be continued by the remaining partners,if a noncontinuing partner holds 20% of the partnership in which the assets are valued at $10,000 how much will the partner receive assuming the noncontinuing partner has taken no wrongful action against the partnership?

• A)$2,000 minus the noncontinuing partner's share of expenses involved with dissolution.
• B)$2,000 minus the noncontinuing partner's share of loses,if any,in the first year after dissolution.
• C)$2,000
• D)$2,000 minus any losses the noncontinuing partner's leaving caused the partnership to sustain.
• E)Nothing

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Definitions:

Continuous Spectrum

A seamless spectrum of light (or other electromagnetic radiation) in which every wavelength within a certain range is represented.

Energy Level

The specific amount of energy an electron can have when occupying a certain orbital in an atom.

Atom

The basic unit of a chemical element, consisting of a nucleus of protons and neutrons, and electrons orbiting the nucleus.

Spectrum Color

The band of colors produced when light is separated into its component wavelengths, visible as when passing through a prism.