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Elements of Business

Types of Partnerships

Question

After dissolution, the authority to bind the Firm, other mutual rights and liabilities of Partners continue, in so far as may be necessary _____________.

A

to wind up the affairs of the Firm

B

to complete the transaction that had begun but left unfinished at the time of dissolution

C

both (a) and (b).

D

either (a) or (b)

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Solution

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Correct option is D. both (a) and (b).

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