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P1 C7 DISSOLUTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C7 DISSOLUTION OF PARTNERSHIP1 Mark
Question
Write the meaning of dissolution of partnership.
✓

Answer

Dissolution of partnership means a change in the relations of the partners (reconstitution) where the existing agreement is terminated and a new one is formed, but the firm continues its business.

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