Question : Which of the following does not result in consideration of a firm?
Option 1: Dissolution of partnership firm
Option 2: Dissolution of partnership
Option 3: Change in profit sharing ratio of existing partners
Option 4: Death of partners
Correct Answer: Dissolution of partnership firm
Solution : Answer = Dissolution of partnership firm
The dissolution of a partnership firm involves the complete termination of its operations and legal existence. This event results in the cessation of all business activities and the liquidation of assets and liabilities. In contrast, other events such as changes in profit-sharing ratios or the death of partners may affect the firm's operations but do not lead to its dissolution. Hence, the correct option is 1.
Question : Choose which of the following statements is correct.
Question : Which of the following does not consist of reconstruction of partnership?
Question : In the event of change in profit-sharing ratio, profit and loss (credit balance) existing in the Balance Sheet is transferred to Capital Accounts of partners in their
Question : In the event of change in profit-sharing ratio, profit and loss (Dr) existing in the Balance Sheet is transferred to Capital Accounts of partners in their
Question : On dissolution of a partnership firm, profit or loss on realisation is distributed among the partners ________.
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