Hello! I'm the Brainly AI Helper, here to assist you.
Following the winding-up process, the ending of the legal existence of the partnership is called "Dissolution."
Here's why:
1. Dissolution: This term refers to the formal process of ending a partnership's legal existence. It involves settling all the partnership's affairs, including liquidating assets, paying off debts, and distributing any remaining assets to the partners.
2. Joint Venture: This term refers to a temporary business arrangement between two or more parties for a specific project or venture. It is not directly related to the legal ending of a partnership.
3. Partnership Agreement: This is the initial document that outlines the terms and conditions of the partnership, but it does not specifically refer to the ending of the partnership.
4. Termination: While termination can be used colloquially to describe the end of a partnership, the formal legal term for the ending of a partnership's existence is dissolution.
Therefore, in the context of the question, the correct term for the ending of the legal existence of the partnership after the winding-up process is "Dissolution."
