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easyMCQCUET Accountancy2026Accountancy
1 mark

Which of the following events takes place in the case of the dissolution of a partnership firm?

  1. A
    Court does not intervene
  2. B
    Business is not terminated
  3. C
    Economic relations between the partners come to an end.
  4. D
    Assets and Liabilities are revalued

Solution & Step-by-step Explanation

Dissolution of a partnership firm implies the complete closure of the business operations. Consequently, the mutual economic relations between all partners come to an end. This contrasts with a simple dissolution of partnership (reconstitution), where economic relationships change but business carries on.

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Which of the following events takes place in the case of the dissolution of a partnership firm?
A
Court does not intervene
B
Business is not terminated
C
Economic relations between the partners come to an end.
D
Assets and Liabilities are revalued

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