Question

Retirement or death of a partner will create a situation for the continuing partners, which is known as ______

Options

• Dissolution of Partnership

• Dissolution of partnership firm

• Winding up of business

• None of these

Answer 1

Retirement or death of a partner will create a situation for the continuing partners, which is known as Dissolution of Partnership.

Explanation:

The admission, retirement, or death of a partner causes the partnership to dissolve, and a new partnership to form in its place.