Match the terms with the definitions.
-Dissolving of the partnership resulting from any change in the members of the partnership.

Question

Quizplus · Accepted Answer

Dissolution refers to the ending of a partnership, which can occur for various reasons such as change in partners or disagreements. Liquidation, on the other hand, refers to the process of selling assets, paying debts, and distributing the remaining funds among partners when a partnership is ending. Partnership is a type of business entity where two or more individuals come together to carry out a business venture. Partnership agreement is a legal document that outlines the terms and conditions of the partnership, including rights and responsibilities of partners, profit sharing, decision-making, etc.

Match the Terms with the Definitions