Question : Identify the circumstance under which a partnership firm is dissolved.
Option 1: When all or all but one partner of the firm become insolvent
Option 2: In case of change in agreement
Option 3: In case of death of a partner
Option 4: None of the above
Answer (1)
12th Jan, 2024
Correct Answer: When all or all but one partner of the firm become insolvent
Solution : In case all or all but one partner of the firm become insolvent, the partnership firm will be dissolved. Hence, the correct option is 1.
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