Practicing Success
Practicing Success
CUET Preparation Today
What happens after the dissolution of a partnership firm? |
The firm continues its business operations under a different name All partners are required to settle the claims and liabilities of the firm New partners are admitted to continue the partnership The firm's assets are distributed among the partners equally |
All partners are required to settle the claims and liabilities of the firm |
The correct answer is option 2- All partners are required to settle the claims and liabilities of the firm. After the dissolution of a partnership firm, the firm ceases to exist as a business entity. The partnership's operations come to an end, and the partners must initiate the process of winding up the firm's affairs. This involves settling the claims and liabilities of the firm. |
