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)
Correct Answer: Both (1) and (2)
Solution : A dissolution agreement is a formal instrument that dissolves or annuls a contract. Then the agreement's two parties go back to the state of affairs that existed before to the signing of the original contract.
Hence the correct answer is option 4.
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 : The written agreement among the Partners is called
Option 1: Partnership deed
Option 2: Partnership by laws
Option 3: Partnership constitution
Option 4: a contract
Question : According to —— the dissolution of partnership between all the partners of a firm is called dissolution of the partnership firm.
Option 1: Section 38, of Indian partnership Act 1932
Option 2: Section 39, of Indian partnership Act 1932
Option 3: Section 32, of Indian partnership Act 1932
Option 4: Section 40, of Indian Partnership Act 1932
Question : Any change in the relationship of existing partners which results in an end of the existing agreement and enforce a new agreement is called
Option 1: Revaluation of partnership
Option 2: Reconstitution of partnership
Option 3: Realization of partnership
Option 4: Dissolution of firm
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