CUET Preparation Today
| Which section of the Indian Partnership Act, 1932 deals with the settlement of accounts when the firm is dissolved? |
42 44 46 48 |
| 48 |
| In case of dissolution of a firm, the firm ceases to conduct business and has to settle its accounts. For this purpose, it disposes off all its assets for satisfying all the claims against it. In this context it should be noted that, subject to agreement among the partners, the following rules as provided in Section 48 of the Partnership Act 1932 shall apply. |
