The sale of assets for liquidation purposes of a partnership is called:

A) a sheriff's sale.
B) dissolution.
C) net liquidation.
D) realization.

Liquidation Purposes

The process of converting assets into cash or cash equivalents by selling them in the event that a business is closing or reorganizing

Sale of Assets

The process of disposing of business assets, either tangible or intangible, in exchange for cash or other compensation.

Sheriff's Sale

A public auction of property repossessed by the government as a result of the owner's failure to comply with legal obligations, such as unpaid taxes or mortgage.