After the partnership's assets have been sold during the winding up, to whom are the proceeds firs distributed?

Multiple Choice

• General partners.

• Silent partners.

• Employees.

• Limited partners.

• Those persons who have claims against the partnership, including creditors and partners who loaned money to the partnership.

 

Which of the following may cause the dissociation of a partner in a partnership?

Multiple Choice

• A partner's bankruptcy filing.

• A partner's expulsion.

• Any of the above.

• A partner's death.

• A partner's retirement.