A partner assigned his partnership interest to a third party. Which statement BESTdescribesthe legal ramifications to the

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A partner assigned his partnership interest to a third party. Which statement BESTdescribesthe legal ramifications to the assignee?

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 answer-question

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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Posted Date: Jan 12, 2021 12:55 AM

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A partner assigned his partnership interest to a third party. Which statement BESTdescribesthe legal ramifications to the

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Expert Answer:

answer Option D is correct The assignee does not become a partner but has the right to share in futu... View the full answer

Accounting

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