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If two partners decide to dissolve their partnership, what is the first step the

Practice Questions

Q1
If two partners decide to dissolve their partnership, what is the first step they should take?
  1. Notify their clients
  2. Liquidate the assets
  3. Draft a dissolution agreement
  4. File for bankruptcy

Questions & Step-by-Step Solutions

If two partners decide to dissolve their partnership, what is the first step they should take?
  • Step 1: Discuss with your partner the decision to dissolve the partnership.
  • Step 2: Draft a dissolution agreement that outlines the terms of the dissolution.
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