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Give the Word / Term Or Phrase Which Can Substitute the Following Statement. to Close the Business of Partnership Firm. - Book Keeping and Accountancy

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Question

Give the word / term or phrase which can substitute  the following statement.

To close the business of partnership firm.

One Word/Term Answer
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Solution

Dissolution of the firm

Explanation: Closure of partnership is termed as dissolution of the firm. A firm is closed with the consent of all the partners which terminates the firm’s business.

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Chapter 1: Introduction to Partnership - Exercise 2 [Page 13]

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Micheal Vaz Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise 2 | Q 9 | Page 13
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