When there is a change in the current partners rsquo association that results in ending the existing...........

When there is a change in the current partners’ association that results in ending the existing agreement and initiate a formation of a new agreement is known as

Revaluation of Partnership

Reconstitution of Partnership

Realization of Partnership

None of the Above

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Explanation:

- Revaluation of Partnership: This is about reassessing the value of partnership assets and liabilities, typically done during events like change in partners or dissolution.

- Reconstitution of Partnership (Correct Answer ): This occurs when there’s a change in the partnership agreement due to events like admission, retirement, or death of a partner. It creates a new agreement and effectively changes the existing partnership terms.

- Realization of Partnership: This involves liquidating the partnership’s assets and settling its liabilities, often occurring during dissolution.

- None of the Above: This implies none of the listed options are correct.