Which of the following will not lead to reconstitution of partnership firm?
Answer & explanation
Correct answer: option 3
The correct answer is option 3- Dissolution of partnership firm.
Dissolution of partnership firm will not lead to reconstitution of partnership firm.
Reconstitution of the partnership firm takes place in the following ways-
* Admission of a new partner
* Change in profit sharing ratio
* Retirement of a partner
* Death of a partner