Which of the Following Statements Is False Concerning Partnership Liquidating

question 97

Multiple Choice

Which of the following statements is false concerning partnership liquidating distributions?

• A)A partner who receives a liquidating distribution can retain an interest in the partnership.
• B)A partnership agreement may restrict the sale of a partnership making a liquidating distribution the only way a partner can close out his interest in the partnership.
• C)Liquidating a single partner's interest is similar in concept to a corporate redemption of a shareholder's interest.
• D)None of these statements is false

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Definitions:

Diagnosed

The identification of the nature of an illness or other problem by examination of the symptoms.

Percent

A unit of measurement that represents one hundredth of a whole.

Stimulant

A class of drugs that increase the activity of the nervous system, resulting in increased alertness, attention, and energy.

ADHD

Attention Deficit Hyperactivity Disorder, a neurodevelopmental disorder characterized by difficulties with attention, impulsivity, and hyperactivity.