The dissolution of a Partnership may take place due to:A. Retirement of a PartnerB. Death of a PartnerC. Insolvency of a PartnerD. Admission of a New PartnerE. Completion of the Venture, if the partnership was formed for that specific purposeChoose the correct answer from the options given below:
- AA and B only
- BA, B and C only
- CA, B, C and D only
- DA, B, C, D and E only
Solution & Step-by-step Explanation
Dissolution of partnership refers to a break in the old agreement and reconstitution of the firm with new terms among partners, without ending the entire business operations.\begin{itemize}\item Any structural alteration inside the partner core—such as \textbf{Retirement (A)}, \textbf{Death (B)}, \textbf{Insolvency (C)}, or \textbf{Admission (D)}—automatically terminates the old partnership framework and establishes a reconstituted one.\item \textbf{Completion of the specific venture (E)} also dissolves the operational mandate of that specific underlying original partnership contract.\end{itemize}Thus, all given scenarios (A, B, C, D, and E) bring about a dissolution of the original partnership arrangement.