Given: I. Settlement of debts II. Cessation of business III. Introduction of assets IV. Disposal...
FINANCIAL
JAMB 2017
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: B. I,II and IV only
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
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