Dissolution of partnership – Fill in the blanks

1. At the time of admission partnership firm is dissolved if business is .

2. All the accounts are settled among partners and creditors at the time of of a business.

3. First of all of the firms will be settled out of sources of the business.

4. Admission of a partner is termination of and not a dissolution of .

5. Court may also dissolve a firm, if a partner a suit, that one of the partners is of mind .

6. Partners are liable ro settle the account of accounts payable even from their sources, if they are solvent.

7. of partner will be paid off, before the settlement of partner's capital.

8. On dissolution partner's capital balance will be paid to them .

9. Retirement/death of a partner will not be dissolution if remaining partners are to continue it.

10. If all partners mutually decide for the dissolution, it will be dissolution of the .

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