state gov RSMSSB Junior Accountant Mock Test 2023 Accounting and Auditing Basic accounting principles Partnership Accounts
When a registered partnership firm is dissolved, which of the following best describes its effect?
1
All the partners shall be relieved from the obligation of the debt of the firm.
2
Partners cannot start any other business within one year of dissolution.
3
One or two old partners can continue the business of the firm with a new one.
4
Partners will not have the right to take personal loans from banks.