Given: I. Settlement of debts II. Cessation of business III. Introduction of assets IV. Disposal of assets Which of these constitutes dissolution of partner...
Assessment:JAMB UTME - Principles of Accounts - 2023Subject:Financial Accounting
I. Settlement of debts II. Cessation of business III. Introduction of assets IV. Disposal of assets
Which of these constitutes dissolution of partnership?
Answer Details
Bankruptcy of a partner, illegality of object of the business, expiration of the time given, non performance of the business, admission of a new partner, withdrawal or retirement of partners give rise to dissolution of partnership.