Identify which of the following will <=ad to dissolution of partnership but NOT dissolution of the firm

When there is chan>= in existing profit sharing ratio among partners

When the business of the firm becomes il<=gal

When there is chan>= in existing profit sharing ratio among partners

CUET Accountancy - Identify which of the following will lead to dissolution of partnership but NOT dissolution of the firm | PYQs + Solutions

CUET Accountancy 2023 20 June Shift 2

Partnership

Medium

When the business of the firm becomes illegal

When a partner becomes insane

When a partner persistently commits breach of partnership agreement

When there is change in existing profit sharing ratio among partners

✅ Correct Option: 4

Related questions:

20 Aug Shift 2

Raman and Naman were in partnership sharing profit and losses as 3 : 2. Their partnership firm was dissolved on 31 March 2022. On the date of dissolution, Naman's loan was Rs. 20,000. Naman agreed to take stock (already transferred to Realisation A/c) of Rs. 15,000 at Rs. 18,000 and balance in cash for the settlement of loan. Journal Entry for above transaction is:

22 May Shift 1

The assets of the firm, including any sum contributed by the partners to make up deficiencies of capital, shall be utilized in which sequence? Arrange the following in proper sequence

(A) In paying the debts of the firm to the third parties

(B) In paying each partner proportionately what is due to him/her from the firm for advances as distinguished from capital (i.e. partner's loan)

(D) The residue, if any, shall be divided among the partners in their profit sharing ratio

Choose the correct answer from the options given below:

22 May Shift 1

In the case of the Dissolution of partnership firm, which accounts are opened:

(A) Realization Account

(B) Revaluation Account

(D) Bank Account

Choose the correct answer from the options given below:

CUET Accountancy 2023 20 June Shift 2 PYQs

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