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      Question

      After dissolution of the firm, goodwill of the firm

      __.
      A Can be sold. Correct Answer Incorrect Answer
      B Cannot be sold Correct Answer Incorrect Answer
      C Can be sold with certain restrictions. Correct Answer Incorrect Answer
      D Can be sold partially. Correct Answer Incorrect Answer
      E Cannot be sold till 5 years after dissolution of the firm. Correct Answer Incorrect Answer

      Solution

       Partnership Act  S. 55 SALE OF GOODWILL AFTER DISSOLUTION . (1) In settling the accounts of a firm after dissolution, the goodwill shall, subject to contract between the partners, be included in the assets, and it may be sold either separately or along with other property of the firm.

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