Question 16
Business UnitsWhich of the following is not a condition for dissolution of a partnership?
- A.Continuous disagreement among partners
- B.Expiration of a business year
- C.Mutual consent of the partners
- D.Termination of the venture
Show the answer and explanation
Answer: B (Expiration of a business year)
Explanation
A partnership can end by agreement, by serious disagreement or when the venture it was formed for is completed. The end of a business year is just an accounting date, not a reason to dissolve.