Identify the term that indicate change in existing profit sharing ratio among partners.
This question was previously asked in
Shift 02/06/2023 3:30 PM - 6:30 PM
A
Dissolution of Partnership Firm
B
Dissolution of Partnership
C
Amalgamation of Partnership Firm
D
Valuation of Firm
Correct Answer
Dissolution of Partnership
Detailed Explanation
"Dissolution of Partnership" is indeed the more commonly used term to refer to the process of closing or ending a partnership.
The key point is that during the dissolution process, changes in the profit-sharing ratio among partners may occur.
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