Question

The dissolution of partnership may take place in the following ways?

Options

• Change in existing profit sharing ratio among partners.

• Admission of a new partner & Retirement of a partner.

• Dissolution of Partnership Firm

• All of the above

Answer 1

All of the above

Explanation:

The dissolution of partnership may take place in any of the following way:

1. Admission of a new partner
2. Change in existing profit sharing ratio among partners.

3. Completion of the venture, if partnership is formed for that.

4. Expiry of the period of partnership, if partnership is for a specific period of time.
5. Retirement of a partner
6. Death of a partner
7. Insolvency of a partner