What happens to the assets and liabilities of a partnership on dissolution?
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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...
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The assets will be disposed of usually by sale ...View the full answer
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Related Book For 
Introduction To Financial Accounting
ISBN: 978-0077138448
7th edition
Authors: Anne Marie Ward, Andrew Thomas
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