Question on: SS2 Accounting - Dissolution of Partnership: Meaning
What is the first step in the process of dissolving a partnership?
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A
Agreeing on how the partnership's assets and liabilities will be distributed among the partners.
B
Filing final tax returns with the appropriate government agencies.
C
Selling off any remaining assets.
D
Canceling any licenses or permits that were obtained in the name of the partnership.
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Correct Option: A
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