Question

1 point

In which condition a partnership firm is deemed to be dissolved

​

Answer 1

Answer:

Usually, general partnerships will dissolve if any partner withdraws, becomes deceased, or otherwise becomes unable to continue their duties as a partner. Other circumstances that may lead to partnership dissolution may include: Loss of profits or declaration of bankruptcy. Illegal activities or violations.

Answer 2

Step-by-step explanation:

A firm may be compulsorily dissolved under the following situations: (i) Insolvency of Partners: ADVERTISEMENTS: When all the partners of a firm are declared insolvent or all but one partner are insolvent, then the firm is compulsorily dissolved.