NCERT Class 12 Books Accountancy Chapter 5- Dissolution of Partnership

Safalta Expert Published by: Noor Fatima Updated Tue, 12 Jul 2022 11:15 AM IST

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Here is the information about NCERT Class 12 Books Accountancy Chapter 5. You can give a read to this blog and get PDFs of the subject. 

Here you can download NCERT Class 12 Books Accountancy Chapter 5 Dissolution of Partnership Firm. You can read the book whenever you want and learn from it by downloading the PDF. Downloading the NCERT Class 12 Books Accountancy Chapter 5—Dissolution of Partnership Firm PDF will allow students and candidates preparing for competitive exams to benefit from the reading material.

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You may learn about Chapter 5 of the NCERT Accountancy Class 12 Books, "Dissolution of Partnership Firm," here. Additionally, you may find download links for the previous chapters.


Chapter 5—Dissolution of Partnership Goes Like This-

LEARNING OBJECTIVES

After studying this chapter you will be able to-
  • State the meaning of dissolution of partnership firm
  • Differentiate between dissolution of partnership and dissolution of a partnership firm
  • Describe the various modes of dissolution of the partnership firm
  • Explain the rules relating to the settlement of claims among all partners
  • Prepare Realisation Account
You have learnt about the reconstitution of a partnership firm which takes place on account of admission, retirement or death of a partner.

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In such a situation while the existing partnership is dissolved, the firm may continue under the same name if the partners so decide. In other words, it results in the dissolution of a partnership but not that of the firm. According to Section 39 of the partnership Act 1932, the dissolution of partnership between all the partners of a firm is called the dissolution of the firm. That means the Act recognises the difference in the breaking of relationship between all the partners of a firm and between some of the partners; and it is the breaking or discontinuance of relationship between all the partners which is termed as the dissolution of partnership firm. This brings an end to the existence of firm, and no business is transacted after dissolution except the activities related to closing of the firm as the affairs of the firm are to be wound up by selling firm’s assets and paying its liabilities and discharging the claims of the partners.


5.1 Dissolution of Partnership

As stated earlier dissolution of partnership changes the existing relationship between partners but the firm may continue its business as before.

The dissolution of partnership may take place in any of the following ways-
  1. Change in existing profit sharing ratio among partners
  2. Admission of a new partner; Dissolution of Partnership Firm
  3. Retirement of a partner
  4. Death of a partner
  5. Insolvency of a partner
  6. Completion of the venture, if partnership is formed for thatt
  7. Expiry of the period of partnership, if partnership is for a specific period of time


Some Glimpses of the Chapter are-





NCERT Class 12 Books Accountancy Chapter 5- Dissolution of Partnership Firm- PDF Download

Chapter 5- Dissolution of Partnership Firm

Where can you download NCERT Class 12 Books Accountancy Chapter 5 PDF?

Candidates can download NCERT Class 12 Books Accountancy Chapter 5- Dissolution of Partnership Firm PDF for free on our page. Links are given below.

Chapter 5- Dissolution of Partnership Firm

Why is NCERT Class 12 Books so highly recommended for board exams?

Nearly majority of the questions for board exams are taken from the Class 12 Accountancy NCERT Books. These books are also written by a group of qualified professors, making them a dependable resource for pupils.

Why is NCERT Class 12 Books Accountancy the best study material?

The book can also assist in dispelling uncertainties.
  • Students obtain profound information about accounting with the NCERT Books Class 12 Accountancy, among other advantages of studying from them.
  • The course books include illustrations that might aid students in comprehending the chapters.
  • These books can aid learners in independent study

Are CBSE Books for Class 12 Accountancy important from an examination perspective?

The chapters in CBSE Books for Class 12 Accountancy are vital for board exams and higher classes. Students should read the chapter given in the CBSE books for Class 12 Accountancy. These stories and practice questions can help gain excellent marks.

To get outstanding marks, we provide mock test papers that can help gear-up your preparations for exams. Additionally, you can also download e-books to get yourself prepared even in a better way.
 

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