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Partner's Capital Account Adjustments(Death)

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Question

Write the word / term / phrase, which can substitute each of the following statements.

Winding up of partnership business.

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Solution

Dissolution of Partnership

Explanation: Winding-up of partnership business is known as dissolution of partnership, which means there is a change in the business relationship among the partners but the firm may continue its business.

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Partner's Capital Account Adjustments(Death)

Standard XII Accountancy

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