Which of the Following Is False Regarding Dissolution of a Partnership

question 3

Multiple Choice

Which of the following is false regarding dissolution of a partnership either by act of a partner or by operation of law?

• A) Death of a partner results in dissolution of a partnership by operation of law.
• B) A partnership engaging in an activity that suddenly becomes illegal results in dissolution of a partnership by operation of law.
• C) A partner's engagement in any other business activity results in dissolution of a partnership through an act by a partner.
• D) A partner withdrawing from the partnership at will results in dissolution through an act by a partner.
• E) A partner withdrawing or being expelled pursuant to the partnership agreement results in dissolution through an act by a partner.

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Definitions:

Oligopolistic Markets

Markets dominated by a small number of firms, leading to limited competition and potentially collaborative behavior.

Price Effect

The impact that a change in a good’s price has on its demand, considering both the substitution and income effects.

Oligopoly

A market structure in which only a few sellers offer similar or identical products.

Monopoly Outcome

A market situation where a single firm dominates production and sales, leading to potential inefficiency and higher prices.