Asked by Deledai Johnson on May 10, 2024
Verified
When the winding up partners disagree during the process:
A) majority partner approval is required for actions in the ordinary course of winding up.
B) unanimous partner approval is required for every decision.
C) unanimous partner approval is required for actions in the ordinary course of winding up.
D) majority partner approval is required for every decision.
Winding Up Partners
The process of settling the accounts and liquidating the assets of a partnership for the purpose of dissolving the partnership.
Disagree
To have a difference of opinion or conflicting views about a particular subject.
Majority
The age at which a person is considered legally competent to consent to contracts and manage their own affairs; also, a quantity greater than half of a total.
- Comprehend the procedure involved in the dissolution and winding up of a partnership business.
Verified Answer
DB
Dalila BustosMay 14, 2024
Final Answer :
A
Explanation :
For decisions in the ordinary course of winding up,the decision of a majority of the partners controls.When the decision is an extraordinary one,such as continuing the business for an extended period of time,unanimous partner approval is required.
Learning Objectives
- Comprehend the procedure involved in the dissolution and winding up of a partnership business.