Pick the odd one out.
a. Admission of a partner
b. Retirement/Death of a partner
c. Change in profit-sharing ratio
d. Dissolution of a partnership firm
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Answer:
d. options is correct
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The correct answer is (d) Dissolution of a partnership firm.
- When one of the partners involved with the firm ceases to be a part of the business in the future, the partnership is said to be dissolved.
- It is not the same as the dissolution of a partnership.
- The term "dissolution" refers to the process that leads to the dissolution of a partnership.
- The remaining partners continue the partnership after it dissolves, but it is a completely new and separate partnership.
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