Question :
A firm is reconstituted in the event of:
Option 1:
change in the profit-sharing ratio among the existing partners.
Option 2: admission of a partner or partners.
Option 3: retirement of a partner and death of a partner
Option 4: all of the above
Answer (1)
19th Jan, 2024
Correct Answer: all of the above
Solution : Answer = all of the above
A firm is reconstituted in various scenarios, including changes in profit-sharing ratios among existing partners, admission of new partners, retirement of partners, and death of partners. In each case, the partnership agreement and financial structure undergo modifications, leading to a reconstitution of the firm.
Hence, the correct option is 4.
Comments (0)
Related Questions
Trending Articles/News
