Assertion: Dissolution of partnership is different from the dissolution of the Partnership firm.
Reasoning: Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the dissolution of partnership firm.
Reasoning: Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the dissolution of partnership firm.
Answer & explanation
Correct answer: option 1
Both the statements are true and Reason(R) is the correct explanation of Assertion(A). As the dissolution of a partnership means the reconstitution of a firm whereas the dissolution of a partnership firm means the firm is closed.