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Given: I. Settlement of debts II. Cessation of business III. Introduction of assets IV. Disposal…

Given:
I. Settlement of debts
II. Cessation of business
III. Introduction of assets
IV. Disposal of assets
Which of these constitutes dissolution of partnership?
  • A.
    II and IV only
  • B.
    I,II and IV only
  • C.
    I,II and III only
  • D.
    II,III and IV only
Correct Answer: Option B
Explanation

Dissolution of partnership business simply means the break up of partnership business and which are caused by many factors
II,III and IV: disposal of asset does not constitute dissolution