Which of the following statements is False concerning partnership liquidating distributions?
A) A partner who receives a liquidating distribution can retain an interest in the partnership.
B) A partnership agreement may restrict the sale of a partnership making a liquidating distribution the only way a partner can close out his interest in the partnership.
C) Liquidating a single partner's interest is similar in concept to a corporate redemption of a shareholder's interest.
D) None of these statements is False
Correct Answer:
Verified
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