Dissolution of Partnership

Dissolution means stopping the activities of the partnership businesses.

• True

• False

Realization of Assets and payment of business liabilities happens when business is?

• Establishment of Business

• Dissolution of Business

Dissolution is also called liquidation of the partnership firm

• True

• False

According to Partnership Act 1932, a partnership may be dissolved when the partner is of one opinion to dissolve the firm, or it may be dissolved according to the contracts between the partners.

• By Agreement

• By Notice

• By breach of Partnership Deed

• Contingent Event

If the partnership is at will the firm may be dissolved by any partner giving a 14 days’ notice in writing to all other partners.

• By Agreement

• By Notice

• By breach of Partnership Deed

• Contingent Event

If any partner wilfully commits a breach of partnership DEED then the other partners may dissolve the partnership firm.

• By Agreement

• By Notice

• By breach of Partnership Deed

• Contingent Event

Contingent Dissolution means Liquidation of Business based on another event.

• True

• False

a. In the case of business dealing with an enemy country which is not allowed by the government then the partnership will be dissolved.

• By Agreement

• By Notice

• By breach of Partnership Deed

• Contingent Event

Select Contingent Events.

• Insolvency of Partner

• Death of Partner

• Retirement of Partner

• All the above

Select Contingent Events.

• EXPIRY OF PERIOD

• COMPLETION OF WORK

• UNLAWFUL BUSINESS

• BUSINESS WITH ENEMY COUNTRY

• ALL THE ABOVE