Question : A partnership firm is compulsorily dissolved:

Option 1: When the business of the firm is declared illegal

Option 2: When a partner of the firm dies

Option 3: When a partner of the firm becomes insolvent

Option 4: When a partner transfers his share to some other person without the consent of other partners

Question :  Which of the following is not a way of dissolution of partnership firm?

Option 1: With the consent of all partners

Option 2: When all partners or all but one partner become insolvent

Option 3: When business of the firm becomes illegal

Option 4: When there is a change in the economic relationship of partners

Question : Under dissolution on the happening of certain contingencies, a firm can be dissolved if——–

Option 1: a partner becomes insane

Option 2: a partner becomes insolvent

Option 3: The partnership formed for a particular venture is completed

Option 4: Both (2) and (3)

Question : Dissolution by agreement implies ——-

Option 1: Firm is dissolved with consent of all partners

Option 2: Firm is dissolved in accordance with contract between the partners

Option 3: Firm is dissolved by the partnership Deed

Option 4: Both (1) and (2)

Question : An existing partnership may accept a new partner -

Option 1: With the consent of majority of partners

Option 2: With the consent of all old partners

Option 3: With the consent of 2/3rd of old partners

Option 4: With the consent of any one partner