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Partner's Capital Account Adjustments(Death)

In which of t...

Question

In which of the following cases a partnership firm is re-constituted?

A

Admission

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B

Retirement

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C

Death

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D

All of the above

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Solution

The correct option is D All of the above
The Partnership will be reconstituted if the following cases occur in a firm:
1. Admission of a new partner
2. Retirement of a partner
3. Expulsion of any partner
4. Death of a partner
5. Insolvency of a partner
6. Transfer of share of a partner
Thus the correct answer is D.

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