Dissolution of Partnership – Q & A

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on August 12, 2021

1. What do you mean by dissolution of partnership?

2. Why and how partnership dissolved?

3. What steps are necessary in the dissolution of partnership?

4. Explain realisation account?

5. Explain the term "When all partners are solvent"?

6. What do you mean by "When one partner is insolvent"?

7. If one partner become insolvent, in what ratio solvent partners born the deficiency?

8. State the decision of justice Joyce, in the case of Garner vs Murray.

9. Explain the trem "When all partners are insolvent".

10. What will be passed, for creditor's liabilities at the time of dissolution, when all partners are insolvent?

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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