The partnership of Bull and Bear is in the process of termination. The partners have disagreed on

Question:

The of Bull and Bear is in the process of termination. The partners have disagreed on virtually every decision and have decided to liquidate the present business with each partner taking his own clients from the Bull wants cash distributed as it becomes available; Bear wants no cash distributed until all assets have been sold and all liabilities settled. You are called in to aid in the termination and process.

Required
How would you respond to each of the partners' requests?

Liquidation
Liquidation in finance and economics is the process of bringing a business to an end and distributing its assets to claimants. It is an event that usually occurs when a company is insolvent, meaning it cannot pay its obligations when they are due.... Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...