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Natalia and Eric each own 40% of partnership NEW. On August 15, 2021, Natalia sold her interest to Walter, a 20% partner. On August 29, 2021, Eric sold his interest to Wendy. When does the partnership terminate?    August 15, 2021.  August 29, 2021.  December 31, 2021.  The partnership does not terminate.

Natalia and Eric each own 40% of partnership NEW. On August 15, 2021, Natalia sold her interest to Walter, a 20% partner. On August 29, 2021, Eric sold his interest to Wendy. When does the partnership terminate?    August 15, 2021.  August 29, 2021.  December 31, 2021.  The partnership does not terminate.

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Natalia and Eric each own 40% of partnership NEW. On August 15, 2021, Natalia sold her interest to Walter, a 20% partner. On August 29, 2021, Eric sold his interest to Wendy. When does the partnership terminate?

 
 August 15, 2021.
 August 29, 2021.
 December 31, 2021.
 The partnership does not terminate.
 
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