Practice - III. Dissolution of a Partnership Firm
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Practice Questions
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What is dissolution in the context of a partnership?
💡 Hint: Think about whether the business continues or not.
Name one mode of dissolution of a partnership.
💡 Hint: Consider how partners might decide to end their business.
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Interactive Quizzes
Quick quizzes to reinforce your learning
What happens during the dissolution of a partnership?
💡 Hint: Focus on whether the partnership continues.
True or False: A dissolution can occur by mutual agreement.
💡 Hint: Consider if partners can independently choose to end the firm.
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Challenge Problems
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Part A: A partnership firm consisting of four partners decides to dissolve. They have assets of ₹80,000 and liabilities of ₹30,000. Calculate the capital amount distributed to the partners if there are no other considerations.
💡 Hint: Focus first on calculating the surplus, and then divide it by the number of partners.
Part B: If the partners owe ₹5,000 to a loan and decide to pay it off before distributing their capital among themselves, how does this affect the surplus?
💡 Hint: Always settle debts first to know how much can be shared later.
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