A parent and children currently own and operate a farm as equal partners. Under the Revised Uniform Partnership Act, what effect would the death of the parent have on the partnership?
A. The estate of the deceased partner automatically becomes a partner.
B. The surviving partners could continue the partnership.
C. The partnership would be dissolved and wound up.
D. A partnership agreement could not have governed the continuation of the partnership.
Answer: B. The surviving partners could continue the partnership.
Business
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A Keogh plan maintained for the owner of an unincorporated business must cover all employees of the business on a nondiscriminatory basis.
Answer the following statement true (T) or false (F)
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