[amp_mcq option1=”by the death of any one of the partner” option2=”by the retirement of any one of the partner” option3=”by the insolvency of any one of the partner” option4=”by the insolvency of all but except one partner” correct=”option1″]<\/p>\n
The correct answer is: A. by the death of any one of the partner.<\/p>\n
A partnership is a business relationship between two or more people who agree to share the profits and losses of the business. When one of the partners dies, the partnership is dissolved. This is because the partnership agreement is based on the assumption that all of the partners will be involved in the business. When one of the partners dies, the remaining partners may choose to continue the business, but they will need to create a new partnership agreement.<\/p>\n
The other options are incorrect because they do not necessarily result in the dissolution of a partnership. For example, if one of the partners retires, the partnership may continue if the remaining partners agree. Similarly, if one of the partners becomes insolvent, the partnership may continue if the remaining partners are able to pay off the debts of the partnership.<\/p>\n
However, if all of the partners become insolvent, the partnership will be dissolved. This is because the partnership will no longer be able to pay its debts. The assets of the partnership will be sold and the proceeds will be used to pay off the debts. Any remaining assets will be distributed to the partners according to their ownership interests.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”by the death of any one of the partner” option2=”by the retirement of any one of the partner” option3=”by the insolvency of any one of the partner” option4=”by the insolvency of all but except one partner” correct=”option1″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-45164","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\n