Asked by Ashley Bull Calf on May 27, 2024
Verified
The formal disbanding of a partnership or corporation is called
A) liquidation.
B) merger.
C) dissolution.
D) winding up.
Partnership Dissolution
The legal termination of a partnership agreement, leading to the cessation of business activities and the distribution of assets.
Formal Disbanding
The official process of dissolving an organization, group, or entity and ceasing its operations.
- Comprehend the procedures and lawful consequences associated with the dissolution of a partnership.
Verified Answer
LL
lihong liangMay 29, 2024
Final Answer :
C
Explanation :
Dissolution is the formal process of disbanding a partnership or corporation, where its legal existence is terminated.
Learning Objectives
- Comprehend the procedures and lawful consequences associated with the dissolution of a partnership.