A partner assigned his partnership interest to a third party. Which statement BESTdescribesthe legal ramifications to the
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Question:
A. The assignment of the partnership interest does not entitle the assignee to partnership assets upon a liquidation.
B. The assignment dissolves the partnership.
C. The assignee has the right to share in the management of the partnership.
D. The assignee does not become a partner but has the right to share in future partnership profits and to receive the proper share of partnership assets upon liquidation
Related Book For
Accounting
ISBN: 978-1118608227
9th edition
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
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