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Dissolution and Termination of a Partnership

Instructions:

Choose an answer and hit 'next'. You will receive your score and answers at the end.

question 1 of 3

The first step in ending a partnership is known as:

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1. The second step in ending a partnership is known as:

2. Once all steps to ending a partnership are complete the partnership is considered to be void, or:

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About This Quiz & Worksheet

There are several processes and steps to ending a business partnership, and this quiz/worksheet will help you test your understanding of them, as well as the general concept of the discontinuation of a partnership.

Quiz & Worksheet Goals

In these assessments you'll be tested on identifying:

  • First and second steps in ending a partnership
  • Term used for a void partnership
  • Processes involved in ending a business partnership

Skills Practiced

This quiz and worksheet allow students to test the following skills:

  • Defining key concepts - ensure that you can accurately identify the terms or phrases for steps in ending a partnership
  • Distinguishing differences - compare and contrast processes that are and aren't included in the proper ending of a partnership
  • Information recall - access the knowledge you've gained regarding the steps of ending a partnership
  • Making connections - use understanding of the process of discontinuing a partnership in both the beginning and ending stages

Additional Learning

To learn more about ending a business partnership, review the accompanying lesson titled Dissolution and Termination of a Partnership. This lesson covers the following objectives:

  • Define partnership
  • Understand partnership and partner management through an example
  • Identify several ways that ending a partnership can occur
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