Question : Change in the existing agreement between the partners is called

Option 1: Dissolution of Firm

Option 2: Reconstitution of Partnership

Option 3: Dissolution of Business

Option 4: None of the Above

Question : The dissolution of partnership between all the partners of a firm is called:

Option 1: Reconstitution of partnership firm

Option 2: Dissolution of partnership

Option 3: Dissolution of partnership firm

Option 4: Any of the above

Question : Which of the following does not result in consideration of a firm?

Option 1: Dissolution of partnership firm

Option 2: Dissolution of partnership 

Option 3: Change  in profit sharing ratio of existing partners 

Option 4: Death of partners

Question : At the time of reconstitution of a partnership firm, recording of an unrecorded liability will lead to: 

Option 1: Gain to the existing partners 

Option 2: Loss to the existing partners 

Option 3: Neither gain nor loss to the existing partners 

Option 4: None of the above 

Question : Choose which of the following statements is correct.

Option 1: Change in the profit-sharing ratio among the existing partners results in reconstitution of the firm.

Option 2: Change in Profit-sharing Ratio leads to dissolution of partnership and not of the firm.

Option 3: Both 1 and 2

Option 4: None of the above