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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 partnership is different from the dissolution of the Partnership firm.
Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.
- 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 'A'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A)...
Assertion (A): Dissolution of partnership is different from the dissolution of the partnership firm.
Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.
The correct answer is option A, which states that both the Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Explanation:
To understand the assertion and reason given in the question, let's break down the concepts of dissolution of partnership and dissolution of the partnership firm.
Dissolution of Partnership:
Dissolution of partnership refers to the termination or ending of the relationship between partners in a partnership. It occurs when any of the following events take place:
- Expiration of the partnership term
- Completion of the specific project for which the partnership was formed
- Mutual agreement among partners to dissolve the partnership
- Death, retirement, or insolvency of a partner
- Transfer of a partner's interest in the partnership
When a partnership is dissolved, it means that the partnership agreement or contract is terminated, and the partners are no longer bound by the terms of the partnership. However, the dissolution of partnership does not necessarily mean the end of the partnership firm.
Dissolution of Partnership Firm:
Dissolution of the partnership firm refers to the complete winding up or closure of the business entity formed by the partners. It involves the settlement of all the firm's liabilities, realization of assets, payment of dues to partners, and distribution of the remaining assets among the partners as per their agreed profit-sharing ratio.
In the dissolution of the partnership firm, the legal existence of the firm comes to an end. It is a more comprehensive process compared to the dissolution of partnership alone. The dissolution of partnership is just one of the events that may lead to the dissolution of the partnership firm.
Explanation of Assertion (A) and Reason (R):
Assertion (A) states that dissolution of partnership is different from the dissolution of the partnership firm, and this statement is true. This is because the dissolution of partnership refers to the termination of the partnership relationship between partners, whereas the dissolution of the partnership firm involves the winding up and closure of the entire business entity.
Reason (R) states that dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm. This statement is also true and provides the correct explanation of Assertion (A). It emphasizes that the dissolution of partnership alone does not automatically dissolve the partnership firm. The dissolution of the partnership firm is a separate and more extensive process.
Therefore, both Assertion (A) and Reason (R) are true, and Reason (R) correctly explains Assertion (A).
Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.
The correct answer is option A, which states that both the Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Explanation:
To understand the assertion and reason given in the question, let's break down the concepts of dissolution of partnership and dissolution of the partnership firm.
Dissolution of Partnership:
Dissolution of partnership refers to the termination or ending of the relationship between partners in a partnership. It occurs when any of the following events take place:
- Expiration of the partnership term
- Completion of the specific project for which the partnership was formed
- Mutual agreement among partners to dissolve the partnership
- Death, retirement, or insolvency of a partner
- Transfer of a partner's interest in the partnership
When a partnership is dissolved, it means that the partnership agreement or contract is terminated, and the partners are no longer bound by the terms of the partnership. However, the dissolution of partnership does not necessarily mean the end of the partnership firm.
Dissolution of Partnership Firm:
Dissolution of the partnership firm refers to the complete winding up or closure of the business entity formed by the partners. It involves the settlement of all the firm's liabilities, realization of assets, payment of dues to partners, and distribution of the remaining assets among the partners as per their agreed profit-sharing ratio.
In the dissolution of the partnership firm, the legal existence of the firm comes to an end. It is a more comprehensive process compared to the dissolution of partnership alone. The dissolution of partnership is just one of the events that may lead to the dissolution of the partnership firm.
Explanation of Assertion (A) and Reason (R):
Assertion (A) states that dissolution of partnership is different from the dissolution of the partnership firm, and this statement is true. This is because the dissolution of partnership refers to the termination of the partnership relationship between partners, whereas the dissolution of the partnership firm involves the winding up and closure of the entire business entity.
Reason (R) states that dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm. This statement is also true and provides the correct explanation of Assertion (A). It emphasizes that the dissolution of partnership alone does not automatically dissolve the partnership firm. The dissolution of the partnership firm is a separate and more extensive process.
Therefore, both Assertion (A) and Reason (R) are true, and Reason (R) correctly explains Assertion (A).
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Directions : In the following questions, a statement of Assertion (A)...
Dissolution of partnership means reconstitution of the firm due to change in the profit sharing ratio among existing partners, admission of a new partner, retirement of a partner, death of a partner, insolvency of a partner and the firm continues as before. However, the dissolution of partnership does not lead to the dissolution of the firm.
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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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. 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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. 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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. 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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. 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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. 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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. 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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. Can you explain this answer?.
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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 partnership is different from the dissolution of the Partnership firm.Reason (R): Dissolution of partnership doesn’t dissolve the firm but the firm is dissolved in the partnership firm.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 'A'. Can you explain this answer? tests, examples and also practice Commerce tests.
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