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Standard XII
Accountancy
Introduction to Death of Partner
Public notice...
Question
Public notice of dissolution of a firm is given by....
A
Managing partner
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B
Active partner
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C
Legal advisor of the firm
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D
Any partner
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Solution
The correct option is
C
Any partner
Option D is the correct answer.
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If no public notice of dissolution of a firm is given :
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D and E re partners in a firm. They decided to dissolve the firm from 1st January 1999 but failed to give a public notice of its dissolution and continued the business of the firm even after that date 0 died on 5th January 1999 and E was declared insolvent on 18 th January 1999. On 11th January 1999,. A borrowed in the firms name Rs. 20,000 from R who was ignorant of the dissolution. Discuss the liability of partners fort 20,000:
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