Commerce Exam > Commerce Videos > Dissolution of Partnership (Part - 1)
Dissolution of Partnership (Part - 1) Video Lecture - Commerce
FAQs on Dissolution of Partnership (Part - 1) Video Lecture - Commerce
| 1. What is the meaning of dissolution of partnership? |  |
Ans. Dissolution of partnership refers to the legal process of ending a partnership business. It involves the termination of the rights, responsibilities, and obligations of the partners towards each other and towards the partnership.
| 2. What are the common reasons for the dissolution of a partnership? | |
Ans. There can be several reasons for the dissolution of a partnership, including disagreement among partners, retirement or death of a partner, expiration of the partnership term, bankruptcy or insolvency of the partnership, and irreconcilable differences between partners.
| 3. How is the dissolution of partnership different from the termination of a partnership? | |
Ans. The dissolution of partnership refers to the legal process of ending a partnership, while the termination of a partnership refers to the actual end of the partnership business. Dissolution is the first step towards termination, which involves settling the partnership's affairs, distributing assets, and fulfilling obligations before officially closing the business.
| 4. What happens to the partnership assets and liabilities during the dissolution process? | |
Ans. During the dissolution process, the partnership assets are liquidated and converted into cash. The cash proceeds are then used to settle any outstanding debts and liabilities of the partnership. If there are any remaining assets after paying off the liabilities, they are distributed among the partners based on their respective ownership interests.
| 5. Are partners personally liable for the partnership's debts after dissolution? | |
Ans. In general, partners are not personally liable for the partnership's debts that arise after the dissolution, as their liability is limited to their capital contributions and any personal guarantees they may have given. However, partners may still be held personally liable for any debts or obligations if they have engaged in fraudulent or wrongful conduct during the dissolution process.
Related Exams
About this Video
|
4.70/5 Rating |
|
Dec 24, 2024 Last updated |
Dissolution of Partnership (Part - 1) for Commerce2024 is part of Commerce preparation. The notes and questions for Dissolution of Partnership (Part - 1)
have been prepared according to the Commerce exam syllabus. Information about Dissolution of Partnership (Part - 1) covers all important topics
for Commerce2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises
and tests below for Dissolution of Partnership (Part - 1).
Description
Video Lecture & Questions for Dissolution of Partnership (Part - 1) Video Lecture - Commerce - Commerce full syllabus preparation | Free video for Commerce exam.
Information about Dissolution of Partnership (Part - 1)
Here you can find the Dissolution of Partnership (Part - 1) defined & explained in the simplest way possible. Besides explaining types of Dissolution of Partnership (Part - 1)
theory, EduRev gives you an ample number of questions to practice Dissolution of Partnership (Part - 1) tests, examples and also practice Commerce tests.
|
Explore Courses for Commerce exam
|
|
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
Related Searches
Exam
,Previous Year Questions with Solutions
,Dissolution of Partnership (Part - 1) Video Lecture - Commerce
,Summary
,shortcuts and tricks
,Free
,Important questions
,Extra Questions
,mock tests for examination
,Sample Paper
,Objective type Questions
,study material
,MCQs
,practice quizzes
,video lectures
,Dissolution of Partnership (Part - 1) Video Lecture - Commerce
,past year papers
,Dissolution of Partnership (Part - 1) Video Lecture - Commerce
,Semester Notes
,Viva Questions
,ppt
;
Study Dissolution of Partnership (Part - 1) on the App
Students of Commerce can study Dissolution of Partnership (Part - 1) alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Dissolution of Partnership (Part - 1),
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Dissolution of Partnership (Part - 1) is prepared as per the latest Commerce syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup