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:

Fishbone Diagram

A visual tool used for identifying and organizing the causes of a problem, typically resembling the shape of a fishbone.

Causes

The underlying factors or reasons for an event or situation, often analyzed in problem-solving and decision-making processes.

The Law of Unintended Consequences

The principle that actions, especially those taken on a large scale, can have unanticipated and often undesirable effects.

Uncertainty

The state of having limited knowledge, making it impossible to precisely predict the future or outcomes.