Match List-I with List-II List-

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Dissolution of Partnership Firm

Question:

Match List-I with List-II

List-I (Events)	List-II (Result.)
(A) Termination of business.	(I) Not possible in the dissolution of partnership.
(b) Continuation of business	(II) Not possible in the dissolution of a firm.
(C) Intervention of court.	(III) Dissolution of firm.
(D) Continuation of books of accounts.	(IV) Dissolution of partnership.

Choose the correct answer from the options given below:

Options:

(A)-(III), (B)-(I), (C)-(II), (D)-(IV)

(A)-(I), (B)-(III), (C)-(II), (D)-(IV)

(A)-(I), (B)-(II), (C)-(IV), (D)-(III)

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Correct Answer:

(A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Explanation:

The correct answer is Option 4: (A)-(III), (B)-(IV), (C)-(I), (D)-(II)

Event (List I)	Explanation	Result (List II)
(A) Termination of business	When the business operations come to an end, the firm itself is dissolved.	(III) Dissolution of firm
(B) Continuation of business	If the business continues after a partner’s admission, retirement, or death, only the partnership relation changes, not the firm itself.	(IV) Dissolution of partnership
(C) Intervention of court	The court can order dissolution of the firm (under the Indian Partnership Act, 1932 – Sec 44). Hence such intervention is not possible merely for dissolution of partnership.	(I) Not possible in the dissolution of partnership
(D) Continuation of books of accounts	Once a firm is dissolved, its books are closed; they cannot continue.	(II) Not possible in the dissolution of a firm

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