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:
Answer & explanation
Correct answer: option 4
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 |
****