Dissolution of a firm cannot take place in which of the situation:
- ADissolution by Agreement
- BOn the happening of certain contingencies
- CDissolution by Court
- DVoluntary retirement by any one partner
Solution & Step-by-step Explanation
Dissolution of a firm means winding up the entire business operation. This happens via mutual agreement, special contingencies, or a court order.The voluntary retirement of an individual partner simply alters the internal membership configuration. This causes a dissolution of partnership, but does not automatically dissolve the firm itself unless there are only two partners to begin with.