can any1 here describe me the meaning of dissolution of partnership
what is the difference between dissolution and winding up
Thanks
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dissolution
Replies (2)
Dissolution means discontinuation. Dissolution may be of (i) Partnership and (ii) may be of firm
(i) discontinuation of partnership means change is relationship of partner
(ii) discontinuation of firm means closer of business
Winding up is the procedure of to complete the dissolution of firm (not partnership) i.e appointment of liquidator sale of assets repaument of liabiltity etc.
| Originally posted by : Priyanka sah | ||
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Dissolution means discontinuation. Dissolution may be of (i) Partnership and (ii) may be of firm (i) discontinuation of partnership means change is relationship of partner (ii) discontinuation of firm means closer of business Winding up is the procedure of to complete the dissolution of firm (not partnership) i.e appointment of liquidator sale of assets repaument of liabiltity etc. |
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