Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Dissolution of Partnership Firm

Question:

Which among the following are NOT the modes of dissolution of partnership?
A. Dissolution by Nature
B. Change in profit-sharing ratio
C. Dissolution by Agreement
D. Death of partner
E. Insolvency of partner
F. Completion of venture
G. Compulsory dissolution

Options:

A, C, D, G

B, D, E, F

D, F, G

A, C, G

Correct Answer:

A, C, G

Explanation:

The correct answer is option 4- A, C, G.

These options belongs to dissolution of partnership firm. Other options belongs to dissolution of partnership.

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.