Practicing Success
Identify the term that indicate change in existing profit sharing ratio among partners. |
Dissolution of Partnership Firm Dissolution of Partnership Amalgamation of Partnership Firm Valuation of Firm |
Dissolution of Partnership |
The correct answer is Option (2) → Dissolution of Partnership Dissolution of partnership changes the existing relationship between partners but the firm may continue its business as before. The dissolution of partnership may take place in any of the following ways: |