Which of the following statements are TRUE?(A) Dissolution of a partnership is completely different from the dissolution of a firm.(B) A partnership is broken up/dissolved when a partner passes away.(C) A firm can be dissolved if all partners give their consent to it.(D) A firm is compulsorily dissolved whenever any single partner decides to retire.Choose the correct answer from the options given below:

Let us review the legal rules under the Indian Partnership Act, 1932:Statement A (True): Dissolution of a partnership only changes the relations among partners (reconstitution), while dissolution of the firm completely winds up the business.Statement B (True): Unless agreed otherwise in the deed, the death of a partner legally dissolves the existing partnership agreement.Statement C (True): Under Section 40, a firm can be dissolved at any time with the unanimous consent of all partners.Statement D (False): The retirement of a partner leads to the dissolution of that specific partnership agreement, but the remaining partners can choose to continue running the firm. It does not force a compulsory dissolution of the entire firm.Thus, only statements (A), (B), and (C) are true.