Given: I. Settlement of debts II. Cessation of business III. Introduction of assets IV. Disposal...
FINANCIAL
JAMB 2023
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. I,II and III only
- B. I,II and IV only
- C. II and IV only
- D. II and III and IV only
Correct Answer: B. I,II and IV only
Explanation
Bankruptcy of a partner, illegality of object of the business, expiration of the time given, non performance of the business, admission of a new partner, withdrawal or retirement of partners give rise to dissolution of partnership.
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