Which of the following does NOT happen on the dissolution of a partnership?

At the time of dissolution of a partnership firm, the stock appeared in the books was Rs 35,000. One of the partner took over 50% of the stock at 10% less than its book value, and the remaining stock was sold at a gain of 15%. Find the total amount realized from the stock in cash.

Which mode of dissolution is highlighted in the above case?

Dissolution of a firm takes place on the happening of certain contingencies in the following cases:

(A) By the death of a partner

(B) By the adjudication of a partner as an insolvent

(C) When the business of the firm becomes illegal

(D) If constituted for a fixed term, by the expiry of that term

Choose the correct answer from the options given below:

On dissolution of a firm, creditors are transferred to:

In case of dissolution, application of assets of the firm shall be applied in a particular manner and order.

Arrange the following steps in a sequence:

(A) In paying to each partner proportionately what is due to him on account of capital.

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

(C) In paying the debts of the firm to the third parties.

(D) 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

Choose the correct answer from the options given below:

The Court may order a partnership firm to be dissolved in which of the following case?