Which of the following is true about dissolution and winding up the partnership?
A)In liquidation,the assets may not be sold separately.
B)Winding up always requires the sale of assets.
C)During winding up,the partners continue as fiduciaries to each other.
D)Most firms provide the partners with the firms' assets rather than proceeds from the sale of the same.

Question

Quizplus · Accepted Answer

During winding up,the partners continue as fiduciaries to each other,especially in negotiating sales or making distributions of partnership assets to members of the partnership.

Which of the Following Is True About Dissolution and Winding