Question : Change in the existing agreement between the partners is called
Option 1: Dissolution of Firm
Option 2: Reconstitution of Partnership
Option 3: Dissolution of Business
Option 4: None of the Above
Answer (1)
9th Jan, 2024
Correct Answer: Reconstitution of Partnership
Solution : Any modification to the current contract is referred to as reconstruction of the partnership firm. In light of the altered connection between the partners in the partnership Firm and the changes to its membership, the previous agreement comes to an end, and a new one is created.
Hence the correct answer is option 2.
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