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What is meant by dissolution of a firm?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Dissolution of a firm means the dissolution of partnership among all the partners of the firm and the firm’s business is closed.



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Previous PostRiyansh, Garv and Kavleen were partners in a firm sharing profit and loss in the ratio of 8: 7: 5. On 2nd November, 2018, Kavleen died. Kavleen’s share of profits till the date of her death was calculated at Rs. 9,375. Pass the necessary journal entry. (CBSE Sample Paper 2019)
Next PostWhat is Dissolution of Partnership?

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