Question : In which condition a partnership firm is deemed to be dissolved?
Option 1: On admission of a partner
Option 2: On retirement of a partner
Option 3: On loss in partnership
Option 4: On expiry of the period of partnership

Question

Question : In which condition a partnership firm is deemed to be dissolved?

Option 1: On admission of a partner

Option 2: On retirement of a partner

Option 3: On loss in partnership

Option 4: On expiry of the period of partnership

Team Careers360 · Accepted Answer

Correct Answer: On expiry of the period of partnership

Solution : Answer = On expiry of the period of partnership.

The dissolution of a firm involves a complete breakdown of relations between the partners. In case of dissolution of the firm, the business of the firm is closed down.
Hence, the correct option is 4.

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Question : In which condition a partnership firm is deemed to be dissolved?Option 1: On admission of a partnerOption 2: On retirement of a partnerOption 3: On loss in partnershipOption 4: On expiry of the period of partnership

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Question : In which condition a partnership firm is deemed to be dissolved?
Option 1: On admission of a partner
Option 2: On retirement of a partner
Option 3: On loss in partnership
Option 4: On expiry of the period of partnership

Question : Gain/loss on revaluation at the time of change in profit sharing ratio of existing partners is shared by ____(i)_ whereas in case of admission of a partner, it is shared by _(ii)___.

Question : Distribution of 'profit and loss (credit) at the time of change in profit sharing ratio of existing partners is shared by ____(i)_ whereas in case of admission of a partner, it is shared by_(ii)___.