Which combination of statements is true about dissolution?(A). Dissolution of a partnership is different from dissolution of a firm.(B). A partnership is dissolved when there is a death of a partner.(C). A firm is dissolved when all partners give consent to it.(D). A firm is compulsorily dissolved when a partner decides to retire.Choose the correct answer from the options given below:

Let's assess the statements:(A) is true: Dissolution of partnership means reconstitution of the relation between partners (business continues), whereas dissolution of the firm means the commercial entity ceases to exist entirely.(B) is true: Unless agreed otherwise, the death of a partner dissolves the old partnership relationship.(C) is true: Under Section 40 of the Indian Partnership Act, a firm can be dissolved at any point with the mutual consent of all partners.(D) is false: The retirement of a partner leads to the dissolution of the partnership, not the compulsory dissolution of the firm. The surviving partners can choose to continue carrying on the business operations.Therefore, statements (A), (B), and (C) are true.