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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.
Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false .
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'D'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A)...
Dissolution of the partnership firm is also called the end of the partnership.
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Directions : In the following questions, a statement of Assertion (A)...
Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.
Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.
Explanation:
Partnership Dissolution:
Partnership dissolution refers to the process of ending the partnership business. It involves the settlement of all the assets and liabilities of the firm and the distribution of the remaining profits among the partners.
Restructuring of the Partnership:
Restructuring of the partnership refers to the reorganization of the existing partnership firm. It involves changes in various aspects of the partnership, such as the profit sharing ratio, admission of new partners, retirement of existing partners, etc.
Relation between Dissolution and Restructuring:
Dissolution of the partnership firm and restructuring of the partnership are related concepts, but they are not the same.
Assertion (A) Explanation:
The assertion states that dissolution of the partnership firm is also called restructuring of the partnership. This statement is not correct. Dissolution and restructuring are two different processes, although they may be related.
Reason (R) Explanation:
The reason states that restructuring of the firm leads to a change in profit sharing ratio and adjustment of goodwill. This statement is true. When a partnership firm undergoes restructuring, there can be changes in the profit sharing ratio among the partners. This change in profit sharing ratio may result in the adjustment of goodwill, which represents the reputation and value of the firm.
Conclusion:
The assertion is false as dissolution of the partnership firm is not the same as restructuring of the partnership. However, the reason is true as restructuring can lead to changes in the profit sharing ratio and adjustment of goodwill. Therefore, the correct answer is option 'd' - Assertion (A) is false, but Reason (R) is true.
Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.
Explanation:
Partnership Dissolution:
Partnership dissolution refers to the process of ending the partnership business. It involves the settlement of all the assets and liabilities of the firm and the distribution of the remaining profits among the partners.
Restructuring of the Partnership:
Restructuring of the partnership refers to the reorganization of the existing partnership firm. It involves changes in various aspects of the partnership, such as the profit sharing ratio, admission of new partners, retirement of existing partners, etc.
Relation between Dissolution and Restructuring:
Dissolution of the partnership firm and restructuring of the partnership are related concepts, but they are not the same.
Assertion (A) Explanation:
The assertion states that dissolution of the partnership firm is also called restructuring of the partnership. This statement is not correct. Dissolution and restructuring are two different processes, although they may be related.
Reason (R) Explanation:
The reason states that restructuring of the firm leads to a change in profit sharing ratio and adjustment of goodwill. This statement is true. When a partnership firm undergoes restructuring, there can be changes in the profit sharing ratio among the partners. This change in profit sharing ratio may result in the adjustment of goodwill, which represents the reputation and value of the firm.
Conclusion:
The assertion is false as dissolution of the partnership firm is not the same as restructuring of the partnership. However, the reason is true as restructuring can lead to changes in the profit sharing ratio and adjustment of goodwill. Therefore, the correct answer is option 'd' - Assertion (A) is false, but Reason (R) is true.
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?.
Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?.
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer?, a detailed solution for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? has been provided alongside types of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? theory, EduRev gives you an
ample number of questions to practice Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): Dissolution of the partnership firm is also called restructuring of the partnership.Reason (R): Restructuring of the firm leads to the change in profit sharing ratio and adjustment of goodwill.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'D'. Can you explain this answer? tests, examples and also practice Commerce tests.
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