If each one of the partners of a firm pulls out of a business and decides to separate, it is called :
Under Section 39 of the Indian Partnership Act, 1932, when all partners of a firm sever their business relationship and the partnership among all partners comes to a…
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If each one of the partners of a firm pulls out of a business and decides to separate, it is called :
Answer and explanation
Correct answer B
Under Section 39 of the Indian Partnership Act, 1932, when all partners of a firm sever their business relationship and the partnership among all partners comes to a complete end, it is termed the Dissolution of the firm.
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