Question

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Answer 1

HEYA!!

here is ur answer:-

Q4 Two circumstances in which the fixed capital of Partners may change are :

i)    When additional capital is introduced by the Partners.

ii)   When a part of the capital is permanently withdrawn by the Partners.

Q5

Reconstitution=

Reconstitution of a Partnership Firm. Often times the partnership firm goes through a restructure. This could be on account of admission of a partner, retirement of a partner or simply a change of terms between partners. This is known as reconstitution of a partnership firm.

Dissolution=

Section 39 of the Indian Partnership Act, provides that “the dissolution of the partnership between all the partners of a firm is called the dissolution of a firm.” It implies the complete break down of the relation of partnership between all the partners.

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