Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:
Change in the existing agreement between the partners is called :
Options:
Dissolution of Firm
Dissolution of Partnership
Dissolution of Business
All of the Above
Correct Answer:
Dissolution of Partnership
Explanation:
The dissolution of a partnership means a change of business relationship between partners whereas the dissolution of a firm means dissolving of the firm along with the relation between partners. In this case, all the assets and liabilities are settled and appropriately disposed