Which of the following is not a correct statement concerning the reasons suffici
ID: 438060 • Letter: W
Question
Which of the following is not a correct statement concerning the reasons sufficient to give a court power to dissolve a partnership?Answer
A partnership may be dissolved if one of the partners is declared physically disabled or mentally incompetent.
A partnership may be dissolved because a partner is shown to be not adequately performing his or her part of the partnership contract.
A partnership may be dissolved if the business can only be carried on with substantial continuing losses.
A partnership may be dissolved if one of the partners commits misconduct or gross negligence or materially breaches the partnership agreement.
Explanation / Answer
A partnership may be dissolved if one of the partners is declared physically disabled or mentally incompetent.