Question

When agreement between partners expires, then firm gets a. Merged with other firm b. Dissolved / Dissolution takes place c. Amalgamation d. New firm opened​

Answer 1

Answer:

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Answer 2

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• b) Dissolved / Dissolution takes place.

♨️ Dissolution of partnership firm is a process in which relationship between partners of firm is dissolved or terminated. If 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. Learn more about Dissolution of partnership firm, legal provisions, and settlement of accounts.