Ask Question
BusinessBusiness
4 January, 03:49

When a partnership is terminated, the assets are turned into cash, and obligations are paid. dissolution. termination. realization. None of the above

+3
Answers (2)
  1. 4 January, 03:59
    0
    The answer to your questions is letter D. None of the above.
  2. 4 January, 04:07
    0
    The correct option is NONE OF THE ABOVE.

    When a partnership is terminated, the assets are are turned into cash and obligations are paid, the partnership is said to be WIND UP.

    A partnership refers to a business relationship that involves two or more persons. A partnership dissolution is said to occur when one of the partners leaves the business. A partnership is said to be terminated when it stop operations. Partnership winding up involves the sales of the assets of the business, the payment of their business debts from the proceeds and the sharing of the remaining proceeds.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “When a partnership is terminated, the assets are turned into cash, and obligations are paid. dissolution. termination. realization. None of ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
You recently discovered that a junior admin deleted some of the srv records, which caused some users to have problems logging in. what is the best way to re-create the srv records?
Answers (1)
Send TU. LIIose integrity One of my coworkers borrowed some money from the till. He was embarrassed when I told him I saw him do it. He did repay it the next day. Does repaying the money show integrity? No Yes
Answers (1)
Sheffield Realty Corporation purchased a tract of unimproved land for $115,500. This land was improved and subdivided into building lots at an additional cost of $72,366.
Answers (1)
A video game manufacturer is planning to market a new machine. The fixed costs are $550,000 and the variable costs are $120 per machine. The wholesale price of the machine will be $140.
Answers (1)
Mike Barr was an outstanding football player in college and expects to be drafted by the NFL in the first few rounds. Mike has let it be known that he would prefer to sign with a club located in Florida, Texas, or Washington.
Answers (1)
New Questions in Business
George and Weezy received $30,200 of Social Security benefits this year ($12,000 for George; $18,200 for Weezy). They also received $5,000 of interest from jointly owned City of Ranburne Bonds and dividend income.
Answers (1)
Which of the following is true regarding the high-tech industry today? a. It generally depends on a pool of low-skilled labor. b. It has led to the increased economic development of previously rural areas. c.
Answers (1)
Presented below are three receivables transactions. Indicate whether these receivables are reported as accounts receivable, notes receivable, or other receivables on a balance sheet. -Sold merchandise on account for $64,000 to a customer.
Answers (1)
Barans Realty Co. pays weekly salaries of $18,000 on Monday for a six-day workweek ending the preceding Saturday. Journalize the necessary adjusting entry at the end of the accounting period, assuming that the period ends on Friday.
Answers (1)
Montana Company was authorized to issue 200,000 shares of common stock. The company had issued 50,000 shares of stock when it purchased 10,000 shares of treasury stock.
Answers (1)
Home » Business » When a partnership is terminated, the assets are turned into cash, and obligations are paid. dissolution. termination. realization. None of the above
Sign Up Forgot Password?