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Distinguish between dissolution of partnership and dissolution of partnership firm on the basis of continuation of business?

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Question added by Divyesh Patel , Assistant Professional Officer- Treasury , City Of Cape Town
Date Posted: 2014/11/06
SREEDEVI SUNILKUMAR
by SREEDEVI SUNILKUMAR , Business finance officer , Emirates Airline

In case of dissolution of partnership, the firm may continue its business operations.

But in case of dissolution of partnership firm, the business operations are discontinued.

Rumshid Noor Mahal
by Rumshid Noor Mahal , General Accountant , Tad-Beer( Kafaah Center Domestic Workers)

The dissolution of a partnership is the process during which the affairs of the partnership are wound up (where the ongoing nature of the partnership relation terminates). This should not be confused with the term dissolution when applied to a limited company, which is the event that marks the conclusion of the winding-up.

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

You can make a fresh cabbage from its own  (but...)

I support the good answers already given.

FITAH MOHAMED
by FITAH MOHAMED , Financial Manager , FUEL AND ENERGY CO for transportion petroleum materials

AGREE WITH MR RAMSHID NOOR  

Malik Khalid Mahmood
by Malik Khalid Mahmood , Regional Finance Manager , Leosons International FZ LLC

The change in partners is not a dissolution,

its a legal word is Admission, Retirement or Death of Partners, in such a case the other partners may continue the business.

The dissolution of a partnership firm is completely closure of firm.

Tanveer Qureshi
by Tanveer Qureshi , Director , Qureshi Associates

Dissolution of partners occur when the business is exists and dissolution of firm occur when company's operation are closed.

omer Ibrahim Mohamed Ahmed Mohamed
by omer Ibrahim Mohamed Ahmed Mohamed , Chief Financial Officer CFO , Global Company for Chemical Industries

Dissolution of partnership refers to the change in the existing relations of the partners. The firm continues its business. It may take place on admission, retirement, death, and expulsion, insolvency of a partner or on change in the profit sharing ratio.

In case of dissolution of firm, the firm does not continue the business.

Deleted user
by Deleted user

agreed with all

Vinod Jetley
by Vinod Jetley , Assistant General Manager , State Bank of India

 

I agree with SREEDEVI SUNILKUMAR

MALIIK SOHAIL ABBAS
by MALIIK SOHAIL ABBAS , ACCOUNTS MANAGER , AL RAWDAH GREEN SWEET WATER

AGREED MR NOOR MAHAL AND VENKATIRAMAN

Ayman Esa Mustafa Farrag
by Ayman Esa Mustafa Farrag , مدير مالي , شركة الصفوف

A gree with all

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