The dissolution of partnership may take place in any of the following ways except:

Dissolution of partnership refers to the change in the relationship between partners which results in the reconstitution of the firm. The existing partnership agreement comes to an end and a new agreement comes into force.

Analyzing each option:

Option 1: Change in existing profit sharing ratio → This leads to dissolution of partnership as the terms of partnership agreement change. A new partnership deed with revised profit sharing comes into effect.

Option 2: Admission of a new partner → This causes dissolution of partnership because a new person joins, changing the composition of partners. The old partnership ends and a new one begins with different partners.

Option 3: Death of a partner → This results in dissolution of partnership as the deceased partner exits, altering the relationship among the remaining partners. A new partnership agreement is required among surviving partners.

Option 4: Expansion of the business → This is merely a business decision involving increase in scale of operations, adding new products, or opening new branches. The partnership agreement, profit sharing ratio, and composition of partners remain unchanged. There is no dissolution of partnership.

Expansion of business is an operational decision that doesn't affect the fundamental relationship between partners, whereas the other three options directly impact the partnership agreement itself, leading to dissolution of the existing partnership and formation of a new one.