Question

1. Assume that a partnership firm owes some amount to a bank and it has not repaid the same. However, a partner has an account in the same bank which a good balance. Can the bank satisfy its debt of the firm by claiming it from the partners account

Answer 1

Answer:

Dissolution of partnership firm is a process in which relationship between partners of firm is dissolved or terminated. This process includes the discarding and disposing of all the assets of firm or and settlements of accounts, assets, and liabilities.

Answer 2

Answer:

Dissolution of partnership firm is a process in which relationship between partners of firm is dissolved or terminated. This process includes the discarding and disposing of all the assets of firm or and settlements of accounts, assets, and liabilities.