Question : Assertion (A): Dissolution of Partnership results in no change in the economic relationship.
Reason (R): Dissolution of Partnership firm results in the ending of the economic relationship.
Option 1: Both Assertion (A) and Reason (R) are true and (A) is correct explanation of Reason (R).
Option 2: Both Assertion (A) and Reason (R) are true but (A) is not correct explanation of Reason (R).
Option 3: Assertion (A) is true but Reason (R) is false.
Option 4: Reason (R) is true but Assertion (A) is false.

Question

Question : Assertion (A): Dissolution of Partnership results in no change in the economic relationship.
Reason (R): Dissolution of Partnership firm results in the ending of the economic relationship.

Option 1: Both Assertion (A) and Reason (R) are true and (A) is correct explanation of Reason (R).

Option 2: Both Assertion (A) and Reason (R) are true but (A) is not correct explanation of Reason (R).

Option 3: Assertion (A) is true but Reason (R) is false.

Option 4: Reason (R) is true but Assertion (A) is false.

Team Careers360 · Accepted Answer

Correct Answer: Reason (R) is true but Assertion (A) is false.

Solution : Dissolution of Partnership results no change in economic relationship. Dissolution of Partnership firm results in ending up of business relationship. Hence, the correct option is 4.

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Question : Assertion (A): Dissolution of Partnership may or may not result into closing down of the business.
Reason (R): Dissolution of Partnership firm means close down of business and comes to an end.

Question : Assertion (A): Dissolution of the firm means the dissolution of the partnership between all the partners of the firm.

Reason (R): Dissolution of the firm means the closure of business and therefore means dissolution of

Question :
Assertion (A): Dissolution of

Question : Assertion (A): A new business is likely to have lesser goodwill.
Reason (R): Goodwill is an intangible asset.

Question : Assertion (A): A partnership firm does not exist as a separate legal entity apart from the partners who comprise it.

Reason (R): The Central Government has established a limit of 100 partners in a firm.