Which of the following events occurs first with respect to the ending of a partnership?

Question

Quizplus · Accepted Answer

Dissolution occurs first, which is the legal act of ending a partnership. It involves the partners agreeing to end the business or a court order to end it. After dissolution, the partnership enters the winding-up phase, where the remaining partnership assets are collected, liquidated, and claims are paid. Once all the partnership affairs have been wound up, the partners receive their distribution of proceeds, and the partnership officially terminates.

Which of the Following Events Occurs First with Respect to the Ending