Which combination of the given statements is correct regarding the dissolution of a partnership and a firm?(A) Dissolution of a partnership is fundamentally different from the dissolution of a firm.(B) A partnership is dissolved when a partner dies.(C) A firm is dissolved when all partners give their consent to dissolve it.(D) A firm is compulsorily dissolved when any single partner decides to retire.Choose the correct answer from the options given below:

Let's analyze the statements according to the Indian Partnership Act, 1932:(A) is True: Dissolution of partnership means a change in the economic relationship among partners (the firm continues), whereas dissolution of the firm implies that the business completely winds up operations.(B) is True: Unless otherwise agreed, the death of a partner dissolves the old partnership agreement structure.(C) is True: Under Section 40, a firm can be dissolved at any time with the consent of all partners.(D) is False: A partner's retirement merely dissolves the partnership, not the firm. The remaining partners can choose to continue the business.Therefore, statements (A), (B), and (C) are correct.