To eliminate costly negotiations or litigation, partners may agree on how the firm's assets will be valued or divided if the partnership dissolves.

Name: To eliminate costly negotiations or litigation, partners may agree on how the firm's assets will be valued or divided if the partnership dissolves.
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Question

Quizplus · Accepted Answer

Partners can agree in advance on a method for valuing or dividing the firm's assets to avoid costly negotiations or litigation if the partnership dissolves, often outlined in a partnership agreement.

To Eliminate Costly Negotiations or Litigation, Partners May Agree on How