Dissolution of a partnership occurs when there is any change in the members of the partnership. implies that the business cannot form a different ownership structure. that busines not continue with a new group of partners. im
Dissolution of a partnership occurs when there is any change in the members of the partnership. implies that the business cannot form a different ownership structure. that busines not continue with a new group of partners. im
Dissolution of a partnership occurs when there is any change in the members of the partnership. implies that the business cannot form a different ownership structure. that busines not continue with a new group of partners. im
Transcribed Image Text:arntership
Dissolution of a partnership
occurs when there is any change in the members of the partnership.
implies that the business cannot form a different ownership structure.
implies that the business cannot continue with a new group of partners.
implies that the business operations will halt.
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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