Question

Importance of dissolution of partnership firms

Answer 1

1/ Countinuity in business
2/ secrecy in business
3/ Books of accounts not closed.
4/ For preparing realisation account...


etc.. %)

Answer 2

Partnership Firm: The business is owned, managed and controlled by an Association for profit is referred to as a partnership firm.  

They are easy to start and are the types of businesses in the unorganized sector.

Dissolution of partnership: The ending of business at the time of dissolution and shares are returned back to the partners.

Aims and Objectives:  

• Better services  
• Increased survival  
• More market share  
• Profits
• To Identify priorities and services that will improve social and economic regeneration.

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