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Question
Death is a compulsory ______.
Options
Dissolution
Admission
Retirement
Winding-up
MCQ
Fill in the Blanks
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Solution
Death is a compulsory retirement.
Explanation:
A partner will cease to be a partner on his death and hence death is considered as compulsory retirement. Partnership business may be continued by surviving partners if partnership firm makes provision in Partnership Deed.
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Chapter 5: Reconstitution of Partnership (Death of Partner) - Exercise 5.1 (Objective Questions) [Page 200]
