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When does the partnership terminate

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Problem 1: Betty and Alan each own 25% of Partnetship BAB. On October 15 2018 Betty sells her interest to Bob, who is a 50% partner. On October 16, 2019, Alan sells his interest to Bob. When does the partnership terminate?

  1. October 15. 2018
  2. January 31, 2019
  3. October 16, 2019
  4. The partnership does not terminate until cessation or liquidation.

Reference no: EM132724564

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