P1 C4 RECUSTRUCTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question
Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C4 RECUSTRUCTION OF PARTNERSHIP1 Mark
Question
State the reasons/causes for reconstruction of partnership.
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Answer
Following are the main reasons for reconstruction of partnership:
$(1)$ Retirement or death or a partner, $(2)$ Changes in the proportion of profit or loss, $(3)$ Admission of a new partner, $(4)$ Death of a partner, $(5)$ Amalgamation of two partnership firm.
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