The partners decide to dissolve Equity Lending. Duke collects and distributes the firm's assets. This results in
A)nothing with respect to the firm's existence.
B)the continuation of the firm's business.
C)the termination of the firm's legal existence.
D)the temporary suspension of the firm's business.

Question

Quizplus · Accepted Answer

When the partners decide to dissolve Equity Lending and Duke collects and distributes the firm's assets, it results in the termination of the firm's legal existence. This means that the firm will no longer legally exist, and its operations will come to a complete end.

The Partners Decide to Dissolve Equity Lending