A firm is dissolved compulsorily in the following cases:
(A) when all the partners or all but one partner, become insolvent, rendering them incompetent to sign a contract
(B) when the business of the firm becomes illegal
(C) when the business of the firm is earning a large amount of profit.
(D) when some event has taken place which makes it unlawful for the partners to carry on the business of the firm in partnership
Choose the correct answer from the options given below:
Held on 3 Jun 2025 · Verified 13 Jul 2026.
(A), (B) and (D) only
(A), (B) and (C) only
(A), (B), (C) and (D)
(B), (C) and (D) only
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.