Which of the following is not a necessary action that the partnership must take upon the death of a partner?

Question

Quizplus · Accepted Answer

Discontinuing business operations is not necessarily required upon the death of a partner. The remaining partners may choose to continue running the business or dissolve the partnership. However, the other options listed (determining net income or loss, closing the books, and preparing financial statements) are necessary actions that need to be taken.

Which of the Following Is Not a Necessary Action That