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Question
Which of the following does not result into reconstitution of a partnership firm?
Options
Dissolution of partnership firm
Dissolution of partnership
Change in profit sharing ratio among existing partners
Death of a partner
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Solution
Dissolution of partnership firm
Explanation:
The firm ceases to exist in the event of dissolution, as the partnership connection between the partners is severed.
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| Balance Sheet as on 31st March, 2019 | ||||
| Liabilities | Amount (₹) | Assets | Amount (₹) | |
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| Balance Sheet as on 31st March, 2020 | |||||
| Liabilities | Amount (₹) |
Assets | Amount (₹) |
||
| Capital A/c: | Furniture | 2,000 | |||
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| 1,04,000 | 1,04000 | ||||
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