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Becca Franklin and Suzanne Peterson Formed an LLC as Co-Owners

Question 15

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Becca Franklin and Suzanne Peterson formed an LLC as co-owners and managers.The LLC made $275,000 after expenses last year.There are no provisions in their operating agreement on how profits are to be split.​
-Becca Franklin and Suzanne Peterson have formed a general partnership.The partnership,BFSP Dental,sells used dental equipment.Tragically,Suzanne is killed in an auto accident.At the time of the accident,BFSP has two dental chairs ($50,000 each) and four high-powered drills ($30,000 each) .What happens to the partnership as a result of Suzanne's death?​


A) ​Becca has the right to continue the partnership.
B) ​The partnership is dissolved.
C) There is right of survivorship in general partnerships, so Becca owns the business in full.
D) The partnership will need to go through a reorganization.

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