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Which of the following is False?
  • a)
    Unless otherwise agreed, it firm is dissolved on the death of a partner.
  • b)
    In case of change in profit sharing ratio, for proportionate goodwill, debit gaining partners in gaining ratio and credit sacrificing partners in sacrificing ratio.
  • c)
    A partner may be admitted or a partner may retire with the consent of all other partners.
  • d)
    A public Notice is required on the death and insolvency of a partner.
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Which of the following is False?a) Un...

Explanation:

Public Notice Requirement:
- The statement that a public notice is required on the death and insolvency of a partner is False.
- In reality, public notice is not required on the death and insolvency of a partner.
- The death or insolvency of a partner should be notified to the concerned parties, such as creditors, suppliers, and customers, but it does not require a public notice.

Other Statements:
- Unless otherwise agreed, a firm is dissolved on the death of a partner. This statement is True.
- In case of a change in profit sharing ratio, for proportionate goodwill, debit gaining partners in gaining ratio and credit sacrificing partners in sacrificing ratio. This statement is True.
- A partner may be admitted or a partner may retire with the consent of all other partners. This statement is True.

Therefore, the false statement is option 'D' which states that a public notice is required on the death and insolvency of a partner.
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Which of the following is False?a) Unless otherwise agreed, it firm is dissolved on the death of a partner. b) In case of change in profit sharing ratio, for proportionate goodwill, debit gaining partners in gaining ratio and credit sacrificing partners in sacrificing ratio. c) A partner may be admitted or a partner may retire with the consent of all other partners. d) A public Notice is required on the death and insolvency of a partner. Correct answer is option 'D'. Can you explain this answer?
Question Description
Which of the following is False?a) Unless otherwise agreed, it firm is dissolved on the death of a partner. b) In case of change in profit sharing ratio, for proportionate goodwill, debit gaining partners in gaining ratio and credit sacrificing partners in sacrificing ratio. c) A partner may be admitted or a partner may retire with the consent of all other partners. d) A public Notice is required on the death and insolvency of a partner. Correct answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following is False?a) Unless otherwise agreed, it firm is dissolved on the death of a partner. b) In case of change in profit sharing ratio, for proportionate goodwill, debit gaining partners in gaining ratio and credit sacrificing partners in sacrificing ratio. c) A partner may be admitted or a partner may retire with the consent of all other partners. d) A public Notice is required on the death and insolvency of a partner. Correct answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is False?a) Unless otherwise agreed, it firm is dissolved on the death of a partner. b) In case of change in profit sharing ratio, for proportionate goodwill, debit gaining partners in gaining ratio and credit sacrificing partners in sacrificing ratio. c) A partner may be admitted or a partner may retire with the consent of all other partners. d) A public Notice is required on the death and insolvency of a partner. Correct answer is option 'D'. Can you explain this answer?.
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