what is dissolution of a partnership
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The dissolution of a partnership is the process during which the affairs of the partnership are wound up (where the on going nature of the partnership relation terminates).
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a relationship between all the partners of firm is dissolved then it is known as dissolution of firm. In case of dissolution of partnership of firm, the firm ceases to exist. This process includes the discarding and disposing of all the assets of firm or and settlements of accounts, assets, and liabilities.
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