If the business becomes illegal & firm is dissolved, it is known as ___

Dissolution by court

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Dissolution by notice

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Dissolution by agreement

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Compulsory dissolution

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Solution

The correct option is D
Compulsory dissolution

If the business becomes illegal & firm is dissolved, it is known as Compulsory dissolution.

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Similar questions

When the firm goes bankrupt or it is ordered by a court to dissolve for illegal practices, it is called ______________

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