Question : Which of the following is not a way of dissolution of partnership firm?
Option 1: With the consent of all partners
Option 2: When all partners or all but one partner become insolvent
Option 3: When business of the firm becomes illegal
Option 4: When there is a change in the economic relationship of partners
Correct Answer: When there is a change in the economic relationship of partners
Solution : When there is a change in the economic relationship of partners, this is known as the dissolution of partnership, but not the dissolution of partnership firm. Hence the correct option is 4.
Question : A partnership firm is compulsorily dissolved:
Question : The dissolution of partnership between all the partners of a firm is called:
Question : An existing partnership may accept a new partner -
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