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Use the Fact Situation in Q8 to Answer the Related

Question 14

Multiple Choice

Use the fact situation in Q8 to answer the related question that follows. Assume that the partnership is governed by a partnership agreement,which provides that on the retirement or bankruptcy of a partner,the partnership and firm continues.In such a case,on Albert's death,


A) the partnership will continue,with Albert's estate replacing Albert as a partner.
B) the partnership will continue between John,George,and Alice.
C) the partnership will become a joint venture.
D) the partnership will be dissolved.
E) the partnership will continue,but the firm name must be changed.

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