Garner Vs. Murray rule applies in case of– (A) Admission of a partner (B) Dissolution of a firm (C) Retirement of a partner (D) Death of a partner  

1 Answer

Answer :

Answer: Dissolution of a firm

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Description : If the goodwill raised at the time of retirement of a partner is to be written-off, then the capital accounts of the remaining partners are debited in– (A) New profit sharing ratio (B) Capital ratio (C) Old profit sharing ratio (D) Sacrificing ratio

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Description : Insolvency of a partner of LLP automatically results in its dissolution.

Last Answer : Insolvency of a partner of LLP automatically results in its dissolution.

Description : Insolvency of a partner of LLP automatically results in its dissolution.

Last Answer : TRUE

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