A partner can withdraw from a partnership by:
A) Selling his/her interest to another person who pays for it in cash.
B) Selling his/her interest to another person who pays for it with non-cash assets.
C) Receiving cash or other assets of the partnership equal to the amount of his/her capital account.
D) Receiving cash or other assets of the partnership greater than the amount of his/her capital account.
E) All of these answers are correct.

Question

Quizplus · Accepted Answer

All of these options are possible ways for a partner to withdraw from a partnership. The partner can sell their interest in the partnership to another person for either cash or non-cash assets, or they can receive cash or other assets from the partnership equal to or greater than their capital account.

A Partner Can Withdraw from a Partnership By