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Home Accounting Dictionary Letter D Dissolution of Partnership Definition
 
 

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Dissolution of Partnership Definition:

When a partnership firm ceases operations and its assets are disposed of.

A firm may be dissolved in accordance with a contract between the partners, by law, on happening of certain contingencies or by court. Or where the partnership is at will it may be dissolved by any partner giving notice in writing to all other partners of his intention to dissolve the partnership or firm.

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