In how many ways can the dissolution of a partnership take place?
Answer & explanation
Correct answer: option 4
The correct answer is option 4- None of these.
The dissolution of a partnership can take place in any of the following ways:
*Change in existing profit sharing ratio among partners.
*Admission of a new partner.
*Retirement of a partner.
*Death of a partner.
*Insolvency of a partner.
*Completion of the venture, if the partnership is formed for that purpose.
*Expiry of the period of partnership, if the partnership is for a specific period of time.