Dissolution of Partnership Firm - Quiz
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Preview questions
1. What is the primary reason for the dissolution of a partnership firm?
Lack of profits · Mutual consent · Change in partnership deed · Excessive liabilities
2. Which of the following is NOT a method of dissolution of a partnership?
By mutual agreement · By court order · By expiration of time · By increase in capital
3. In the absence of a partnership deed, how are profits and losses shared?
Equally among partners · In the ratio of capital contributed · As per the decision of the majority · According to the age of partners
4. What happens to the partnership property upon dissolution?
It is distributed among partners · It is sold to pay off debts · It is retained by the managing partner · It is transferred to a new partnership
5. Which of the following is a consequence of the dissolution of a partnership?
Creation of a new partnership · Settlement of debts · Transfer of liabilities · Reduction of capital
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