Reasons For Dissolution of Partnership - SS2 Accounting Past Questions and Answers - page 1
What is one reason for the dissolution of a partnership?
Retirement or death of a partner
Winning a big contract
Opening a new branch
Hiring new employees
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What may cause a partnership to become unworkable?
Mutual agreement
Financial problems
Changes in business goals or strategies
All of the above
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Which of the following is NOT a reason for the dissolution of a partnership?
Disagreements among partners
Mutual agreement
Winning a big contract
Financial problems
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What can partners do if they have different goals or strategies for the business?
Dissolve the partnership
Work together to find a compromise
Ignore the differences and continue operating
Hire a mediator to resolve the conflict
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When might partners choose to dissolve a partnership?
When they are making a lot of money
When they are experiencing financial difficulties
When they have a lot of employees
When they have a lot of customers
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What are some reasons for the dissolution of a partnership?
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What should partners do if they are experiencing financial difficulties in the partnership?
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