Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

In which condition a partnership firm is deemed to be dissolved?

Options:

On a partner's admission

On retirement of a partner

On expiry of the period of partnership

When there is continuous business loss

Correct Answer:

On expiry of the period of partnership

Explanation:

Partnership firm is deemed to be dissolved on expiry of the period of partnership as the period of the partnership is expired now there is no valid partnership so it is dissolved.