Practicing Success
A partnership firm is compulsorily dissolved: |
When one of the partners becomes solvent When the business of the firm is declared illegal Both of these None of these |
When the business of the firm is declared illegal |
When all the partners of a firm are declared insolvent or all but one partner are insolvent, only then a firm can be compulsorily dissolve. In this case only one partner has become insolvent. |