Partnership

Dissolution

Easy

common

When a firm is dissolved with the consent of all the partners or in accordance with a contract between the partners, it is known as:

Dissolution by Notice

Dissolution by Court

Compulsory Dissolution

Dissolution by Agreement

✅ Correct Option: 4

Section 40 of the Indian Partnership Act 1932 provides that a firm may be dissolved with the consent of all partners or as per a contract between them. This is dissolution by agreement or mutual consent.

2025: 13 May Shift 2

Unrecorded liabilities when paid at the time of dissolution of a partnership firm, are shown in:

2025: 2 June Shift 2

Match List-I with List-II

List-I	List-II
(Accounting standards Section of Act.)	(Issues)
(A) AS-3	(I) Settlement Of Accounts.
(B) AS-26	(II) Firm's debt and private debt
(C) Section 48 of the Indian partnership Act	(III) Cash flow statement.
(D) Section 49 of the Indian partnership Act	(IV) Treatment of goodwill.

Choose the correct answer from the options given below:

2026: 31 May Shift 1

Match the LIST-I with LIST-II

LIST-I		LIST-II
A.	Business has become illegal	I.	Dissolution by Court
B.	When a partner is guilty of misconduct	II.	Compulsory dissolution
C.	Firm is dissolved with the consent of all the partners	III.	Dissolution by Agreement
D.	Death of a partner	IV.	Firm dissolution on the happening of certain contingencies

Choose the correct answer from the options given below:

2022: 15 July Shift 2

A firm is dissolved at the time of

2025: 16 May Shift 1

Match List-I with List-II

List-I	List-II
(A) Meaning of Dissolution	(I) Section 49,of the partnership Act 1932
(B) Application of Assets	(II) Section 39,of the partnership Act 1932
(C) Private Debts Vs Firm's Debts	(III) Section 4,of the partnership Act 1932
(D) Nature of Partnership	(IV) Section 48,of the partnership Act 1932

Choose the correct answer from the options given below:

2025: 3 June Shift 1

According to section _________ of the Partnership Act, 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm.

When a firm is dissolved with the consent of all the partners or in accordance with a contract between the partners, it is known as:

Solution

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