Dissolution of Partnership vs Firm
Trending Questions
A partnership is dissolved when there is a death of a partner. True or False
None of these
Not sure
False
True
A firm is compulsorily dissolved when all partners or when all except one partner become insolvent. True or False.
None of these
Not sure
False
True
- the business
- an agreement
- a firm
- a partnership
If all the partners, but one are insolvent it is __________
Dissolution of a firm
Dissolution of an agreement
May or may not be cause dissolution
None of these
- the business
- an agreement
- a firm
- a partnership
On what occasions sacrificing ratio is used?
After the dissolution of a firm, the authority of a partner to bind the firm:
does not continue at all
continues so far as may be necessary to wind up the affairs of the firm
Can't say
None of these
- the business
- an agreement
- a firm
- a partnership
When a firm decides to close its business, it is said to be _________.
Reconstituted
Dissolved
Either Reconstituted or Dissolved
None of these
In dissolution of a partnership, the business of the firm is
None of these
either closed or continued
continued
closed
- External Reconstruction
- Internal Reconstruction
- Absorption
- Amalgamation
- Temporary partnership
- Co-venturer
- Sharing profit and loss of joint venture
- Master-servant relationship
- Object is unlawful
- Consideration is illegal
- Specifically declared illegal in the Act
- All the three
- False
- True
In case of death of a partner ________.
- both (A) & (B)
- the firm is dissolved unless otherwise agreed
- none of these
- the estate of deceased partner is liable for any act of the firm after the date of his death if no public notice is given
- False
- True
What is sacrificing ratio? Why is it calculated?