JAMB - Accounts Principles Of Accounts (2023 - No. 74)

The Accounting term used to describe a partnership firm that stops operation and disposes its assets is

Amortization

Revaluation

Realization

Dissolution

Explanation

Dissolution of partnership is the process whereby a partnership is automatically dissolved or brought to an end by the happenings of any event which makes it unlawful to carry on the business.

JAMB - Accounts Principles Of Accounts (2023 - No. 74)

Explanation

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