NCERT Solutions Class 12 Accountancy Dissolution of Partnership Firm. The NCERT solutions for Class 12 Accountancy book have been made by Accountancy teacher of one of the best CBSE school in India. Accountancy in class 12 is an important subject for commerce students. Its easy to learn and can help to get good marks. These NCERT solutions have been made to give detailed answers and explanations which can be easily understood by the students. Accountancy for commerce students is rather so important that in all future cources or even in graduation accountancy is the main subject and if understood properly can bethe most scoring also. You can download the NCERT solutions for free in pdf format. Refer to other links also to download Class 12 Accountancy NCERT solutions, worksheets, sample papers and test papers.
TEST YOUR UNDERSTANDING
Question 1. Dissolution of a partnership is different from dissolution of a firm.
Answer True in dissolution of partnership, business continues whereas in dissolution of firm, the business is closed.
Question 2. A partnership is dissolved when there is a death of a partner.
Answer True as a new partnership deed is to be made.
Question 3. A firm is dissolved when all partners give consent to it.
Answer True as all partners agree to it. Question
4: A firm is compulsorily dissolved when a partner decide to retire.
Answer False the remaining partners may continue the business hence, it not necessary to dissolve the firm.
Question 5. Dissolution of a firm necessarily involves dissolution of partnership.
Answer True When firm does not exist then partners have no business to do.
Question 6. A firm is compulsorily dissolved when all partners or when all except one partner become involvent.
Answer True as the partner becomes incompetent to sign the contract.
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