{"id":51129,"date":"2024-04-15T23:20:19","date_gmt":"2024-04-15T23:20:19","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=51129"},"modified":"2024-04-15T23:20:19","modified_gmt":"2024-04-15T23:20:19","slug":"a-b-c-and-d-are-equal-partners-a-b-and-d-die-together-in-a-plane-crash-the-accident-results-in","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/a-b-c-and-d-are-equal-partners-a-b-and-d-die-together-in-a-plane-crash-the-accident-results-in\/","title":{"rendered":"A, B, C and D are equal partners. A, B and D die together in a plane crash. The accident results in:"},"content":{"rendered":"<p>\r\n    <!-- Check if it's an AMP page -->\r\n            <!-- Non-AMP version -->\r\n        <div class=\"mcq-container\" data-quiz-id=\"quizState_6a975d43e9fea\">\r\n                                            <div class=\"option\" data-option-key=\"option1\" data-is-correct=\"true\">\r\n                    dissolution of partnership                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option2\" data-is-correct=\"false\">\r\n                    dissolution of firm                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option3\" data-is-correct=\"false\">\r\n                    both dissolution of partnership and firm                <\/div>\r\n                                            <div class=\"option\" data-option-key=\"option4\" data-is-correct=\"false\">\r\n                    neither dissolution of partnership nor firm                <\/div>\r\n                            \r\n            <!-- Feedback messages for non-AMP -->\r\n            <div class=\"feedback\" data-feedback=\"wrong\">Answer is Right!<\/div>\r\n            <div class=\"feedback\" data-feedback=\"right\">Answer is Wrong!<\/div>\r\n        <\/div>\r\n\r\n        <script>\r\n        document.addEventListener('DOMContentLoaded', function () {\r\n            var containers = document.querySelectorAll('.mcq-container');\r\n\r\n            containers.forEach(function(container) {\r\n                var options = container.querySelectorAll('.option');\r\n                var feedbackSelect = container.querySelector('[data-feedback=\"select\"]');\r\n                var feedbackWrong = container.querySelector('[data-feedback=\"wrong\"]');\r\n                var feedbackRight = container.querySelector('[data-feedback=\"right\"]');\r\n\r\n                options.forEach(function(option) {\r\n                    option.addEventListener('click', function() {\r\n                        var selectedOption = option.getAttribute('data-option-key');\r\n                        var isCorrect = option.getAttribute('data-is-correct') === 'true';\r\n\r\n                        \/\/ Remove previous selections\r\n                        options.forEach(function(opt) {\r\n                            opt.classList.remove('correct', 'incorrect');\r\n                        });\r\n\r\n                        \/\/ Add the correct\/incorrect class\r\n                        if (isCorrect) {\r\n                            option.classList.add('correct');\r\n                            feedbackRight.hidden = false;\r\n                            feedbackWrong.hidden = true;\r\n                        } else {\r\n                            option.classList.add('incorrect');\r\n                            feedbackRight.hidden = true;\r\n                            feedbackWrong.hidden = false;\r\n                        }\r\n\r\n                        \/\/ Hide select feedback\r\n                        feedbackSelect.hidden = true;\r\n                    });\r\n                });\r\n            });\r\n        });\r\n        <\/script>\r\n    \r\n    <!--more--><\/p>\n<p>The correct answer is: <strong>A. Dissolution of partnership<\/strong><\/p>\n<p>A partnership is a business relationship between two or more people who agree to share the profits and losses of a business. A partnership is dissolved when one or more of the partners dies, retires, or leaves the partnership. In this case, A, B, and D have died, so the partnership is dissolved.<\/p>\n<p>A firm is a legal entity that is separate from its owners. A firm can be owned by one person, multiple people, or a corporation. A firm is not dissolved when one or more of its owners dies, retires, or leaves the firm. In this case, the firm will continue to exist, but it will be owned by C only.<\/p>\n<p>Here is a brief explanation of each option:<\/p>\n<ul>\n<li><strong>A. Dissolution of partnership<\/strong><\/li>\n<\/ul>\n<p>A partnership is dissolved when one or more of the partners dies, retires, or leaves the partnership. In this case, A, B, and D have died, so the partnership is dissolved.<\/p>\n<ul>\n<li><strong>B. Dissolution of firm<\/strong><\/li>\n<\/ul>\n<p>A firm is a legal entity that is separate from its owners. A firm can be owned by one person, multiple people, or a corporation. A firm is not dissolved when one or more of its owners dies, retires, or leaves the firm. In this case, the firm will continue to exist, but it will be owned by C only.<\/p>\n<ul>\n<li><strong>C. Both dissolution of partnership and firm<\/strong><\/li>\n<\/ul>\n<p>This option is incorrect because a firm is not dissolved when one or more of its owners <div class=\"youtube-subscribe-container\">\r\n        <a href=\"https:\/\/www.youtube.com\/channel\/UCNHT8lW-JmLC68rjBfZhdkg?sub_confirmation=1\" target=\"_blank\" class=\"youtube-subscribe-button\">\r\n            <span class=\"youtube-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 576 512\">\r\n                    <path d=\"M549.7 124.1c-6.3-23.7-24.8-42.3-48.3-48.6C458.8 64 288 64 288 64S117.2 64 74.6 75.5c-23.5 6.3-42 24.9-48.3 48.6-11.4 42.9-11.4 132.3-11.4 132.3s0 89.4 11.4 132.3c6.3 23.7 24.8 41.5 48.3 47.8C117.2 448 288 448 288 448s170.8 0 213.4-11.5c23.5-6.3 42-24.2 48.3-47.8 11.4-42.9 11.4-132.3 11.4-132.3s0-89.4-11.4-132.3zm-317.5 213.5V175.2l142.7 81.2-142.7 81.2z\"\/>\r\n            <div class=\"telegram-channel-container\">\r\n        <a href=\"https:\/\/t.me\/pscnotes2025\" target=\"_blank\" class=\"telegram-channel-button\">\r\n            <span class=\"telegram-icon\">\r\n                <svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" viewBox=\"0 0 496 512\">\r\n                    <path fill=\"white\" d=\"M248,8C111,8,0,119,0,256s111,248,248,248s248-111,248-248S385,8,248,8z M362,177L320,367c-3,14-10,18-20,14l-56-41l-27,26 c-3,3-5,5-10,5l4-63L323,196c5-5-1-7-8-3l-98,62l-42-13c-9-3-10-9,2-14l162-63C351,160,365,164,362,177z\"\/>\r\n                <\/svg>\r\n            <\/span>\r\n            Join Our Telegram Channel\r\n        <\/a>\r\n    <\/div>     <\/svg>\r\n            <\/span>\r\n            Subscribe on YouTube\r\n        <\/a>\r\n    <\/div> dies, retires, or leaves the firm. In this case, the firm will continue to exist, but it will be owned by C only.<\/p>\n<ul>\n<li><strong>D. Neither dissolution of partnership nor firm<\/strong><\/li>\n<\/ul>\n<p>This option is incorrect because the partnership is dissolved when one or more of the partners dies, retires, or leaves the partnership. In this case, A, B, and D have died, so the partnership is dissolved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Join Our Telegram Channel Subscribe on YouTube<\/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":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>A, B, C and D are equal partners. A, B and D die together in a plane crash. 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