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Match List-I with List-II:List-I (Events)List-II (Result)(A) Termination of business(I) Not Possible In Dissolution Of Partnership.(B) Continuation Of Business(II) Not possible in the dissolution of a firm.(C) Intervention of court(III) Dissolution of firm(D) Continuation of books of accounts(IV) Dissolution of partnership.Choose the correct answer from the options given below:

  1. A
    (A) - (I), (B) - (II), (C) - (III), (D) - (IV)
  2. B
    (A) - (I), (B) - (III), (C) - (II), (D) - (IV)
  3. C
    (A) - (I), (B) - (II), (C) - (IV), (D) - (III)
  4. D
    (A) - (III), (B) - (IV), (C) - (I), (D) - (II)

Solution & Step-by-step Explanation

Let's break down the definitions and rules:Termination of Business: The business activities cease entirely when a firm dissolves ().Continuation of Business: The underlying business continues when a partnership agreement changes ().Intervention of Court: A court can order the dissolution of a firm under certain circumstances. However, a court does not intervene to dissolve a partnership agreement ().Continuation of Books: Accounting records continue to be used during a regular partnership restructure, but they are closed when a firm dissolves ().This mapping corresponds to Option D.

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Match List-I with List-II:List-I (Events)List-II (Result)(A) Termination of business(I) Not Possible In Dissolution Of Partnership.(B) Continuation Of Business(II) Not possible in the dissolution of a firm.(C) Intervention of court(III) Dissolution of firm(D) Continuation of books of accounts(IV) Dissolution of partnership.Choose the correct answer from the options given below:
A
(A) - (I), (B) - (II), (C) - (III), (D) - (IV)
B
(A) - (I), (B) - (III), (C) - (II), (D) - (IV)
C
(A) - (I), (B) - (II), (C) - (IV), (D) - (III)
D
(A) - (III), (B) - (IV), (C) - (I), (D) - (II)

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