Question

Change in the existing agreement between the partners is called ______.

Options

• Dissolution of Firm

• Dissolution of Partnership

• Dissolution of Business

• All of the Above

Answer 1

Change in the existing agreement between the partners is called dissolution of partnership.

Explanation:

The dissolution of partnership refers to a change in the existing agreement between the partners, where the partnership continues to exist but the terms or structure of the agreement may change. This could include changes in profit-sharing ratios, the addition or removal of a partner, or other modifications to the partnership terms. It does not mean the complete closure of the business, which would be dissolution of the firm.