Q416
Under the proviso to section 50 of the Indian Partnership Act, 1932, the purchase of the goodwill of the firm, on dissolution
A.
Is not to account for the personal profits earned after dissolution and before winding up, in the final settlement of accounts
AnswerB.
Is to account for the personal profits earned after dissolution and before winding up, in the final settlement of accounts
C.
Is to account for the personal profits earned after dissolution and before winding up, in the final settlement of accounts only if the consideration for purchase of goodwill is inadequate
D.
Can be restrained from using the firm name after dissolution and before the winding up
Answer: Option A
Solution
Answer: Option A
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