Which of the following statements are true:

(A) Dissolution of a partnership is different from dissolution of a firm.

(B) A partnership is dissolved when there is a death of a partner.

(C) A firm is dissolved when all partners give consent to it.

(D) A firm is compulsorily dissolved when a partner decide to retire.

Choose the correct answer from the options given below:

Analyzing each statement:

(A) Dissolution of a partnership is different from dissolution of a firm - TRUE

Dissolution of Partnership occurs when the relationship between partners changes due to retirement, admission, death, etc. The firm continues its business operations.

Dissolution of Firm occurs when the firm completely ceases to exist and all business activities are terminated.

---

(B) A partnership is dissolved when there is a death of a partner - TRUE

Death of a partner leads to reconstitution of the firm, which means dissolution of partnership. The existing partnership agreement ends and a new agreement may be formed among remaining partners. However, the firm itself can continue.

---

(C) A firm is dissolved when all partners give consent to it - TRUE

Dissolution by mutual consent is one of the recognized modes of dissolution. When all partners unanimously agree to dissolve the firm, it can be dissolved regardless of the terms of the partnership deed.

---

(D) A firm is compulsorily dissolved when a partner decides to retire - FALSE

Retirement of a partner results in dissolution of partnership (reconstitution), not dissolution of firm. The firm continues with remaining partners.

Compulsory dissolution occurs only in specific cases like insolvency of all partners except one, business becoming illegal, death or insolvency of a sole partner in case of two-partner firm, etc. Voluntary retirement is not a ground for compulsory dissolution.

---

Statements (A), (B) and (C) are true.

Correct Option: 3