Plzz if anyone explain me about dissolution of partnership firm?

Question

Answer

When the relation between all the partners of the firm comes to an end, this is called dissolution of the firm. Section 39 of the Indian Partnership Act, provides that “the dissolution of the partnership between all the partners of a firm is called the dissolution of a firm.”                       OR The dissolution of partnership among all the partners of a firm is called the Dissolution of the Firm (Sec. 39 of the Partnership Act, 1932). Dissolution of Partnership involves a change in the relation of partnership business, if the remaining partners resolve to continue the concern.

Answer

Dissolution of firm means the firm is going to be closed all the assets and liabilities are distributed btw the partners or sale it and get cash and distribute it

Answer

Dissolution of partnership means winding up of partnership.. The firm is closed after dissolution and its assets and liabilities are transferred to Realisation Account Assets are sold and liabilities are paid off.. no balance sheet is prepared at the time of dissolution instead bank Account is created...... The partnership Act 1932 section 39 gives the permission to disolve the firm ... dissolution causes are Given in section 40 to 45 of the partnership Act...

Answer

Disolution of partnership firm defines that the business are closed according to section 4; Indian partnership act 1932.section 40 ( mutual agreement)section 41 (compulsory dissolution )

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