CUET Preparation Today
Which of the following is done at the time of retirement of partner from the partnership firm? |
New registrar is appointed New partnership deed is prepared New partnership firm is formed All of these |
New partnership deed is prepared |
The correct answer is option 2- New partnership deed is prepared. New partnership deed is prepared at the time of retirement of partner from the partnership firm. The retirement or death of a partner leads to reconstitution of a partnership firm. On the retirement or death of a partner, the existing partnership deed comes to an end, and in its place, a new partnership deed needs to be framed whereby, the remaining partners continue to do their business on changed terms and conditions. |
