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Home Questions AED7UQFGDB
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 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)-(I), (B)-(II), (C)-(III), (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).

LIST I
(Events)
 LIST II
(Result)
(A) Termination of business (III) Dissolution of firm 
(B) Continuation Of Business (IV) Dissolution of partnership 
(C) Intervention of court (I) Not Possible In Dissolution Of Partnership
(D) Continuation of books of accounts (II) Not possible in the dissolution of a firm

 

(A) Termination of business-(III) Dissolution of firm.
When a firm is dissolved, the business is terminated completely.

(B) Continuation Of Business- (IV) Dissolution of partnership.
A change in partners (like retirement, death, or admission) may result in dissolution of the partnership, but not necessarily the business.

(C) Intervention of court- (I) Not Possible In Dissolution Of Partnership.
A court can dissolve a firm, but not a mere partnership change unless it affects the firm.

(D) Continuation of books of accounts- (II) Not possible in the dissolution of a firm.
When a firm is dissolved, books are closed and not continued. In contrast, books may continue if only the partnership is reconstituted.

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