Partnership

Dissolution

Medium

Which amongst the following is not a ground for dissolution of partnership firm on happening of certain contingencies?

If constituted for a fixed term, by the expiry of that term.

When a partner becomes insane

By death of a partner

By adjudication of a partner as an insolvent.

✅ Correct Option: 2

Under Section 42 of the Indian Partnership Act 1932, dissolution on happening of certain contingencies includes: expiry of fixed term, completion of venture, death of a partner, and insolvency of a partner. Insanity of a partner is NOT listed here; it is a ground for dissolution by court (Section 44).

2025: 26 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Dissolution of firm by agreement	(I) When a partner becomes insane
(B) Compulsory dissolution of firm	(II) With the consent of all partners
(C) Dissolution of firm by notice	(III) When business of a firm becomes illegal
(D) Dissolution of firm by Court	(IV) At the request of any one partner

Choose the correct answer from the options given below:

2025: 26 May Shift 2

In the case of dissolution of firm, accumulated losses are transferred to:

2022: 23 Aug Shift 2

On dissolution of a firm, bank overdraft is transferred to :

2023: 20 June Shift 2

Select out of the following that is not considered as one of the modes of reconstitution of a partnership firm.

2026: 20 May Shift 1

A, B and C constituted a partnership to carry out a venture to build offices for Zakash Office Sites Ltd. On the completion of venture under which way the dissolution of a firm will takes place?

2022: 30 Aug Shift 2

The treatment of Goodwill appearing in the balance sheet will be:

Which amongst the following is not a ground for dissolution of partnership firm on happening of certain contingencies?

Solution

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