Which stage(s) must be completed before a partnership is considered completely terminated?

A) Dissolution only
B) Winding up only
C) Dissolution and release of claims, but not winding up
D) Release of claims and winding up, but not dissolution
E) Dissolution and winding up, but not release of claims

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Afron Ademi · Accepted Answer

Final Answer : E, Explanation :  Dissolution is the first step in ending a partnership, which involves ceasing the partnership's operations and business activities. Winding up follows dissolution and involves settling the partnership's debts, distributing the remaining assets to the partners, and completing any final legal obligations. Release of claims is not a mandatory stage for the termination of a partnership; it might be a part of the process but is not required for the partnership to be considered completely terminated.

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Which stage(s) must be completed before a partnership is considered completely terminated?A) Dissolution onlyB) Winding up onlyC) Dissolution and release of claims, but not winding upD) Release of claims and winding up, but not dissolutionE) Dissolution and winding up, but not release of claims

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