Question

Garner vs Murray related to ___
a) Admission b) Insolvency c) Death d) Retirement

Answer 1

Answer:

option b insolvency

Explanation:

The Garner vs. Murray rule is applicable in case of dissolution of Firm; The rule says that the loss on account of insolvency of a partner is a CAPITAL loss which should be borne by the solvent partners in the ratio of their capitals standing in the balance sheet on the date of dissolution of the firm.

Answer 2

Answer:

b)Insolvency

Explanation:

b) Insolvency