Question

normally partners of amalgamating partnership firm become _____ in new partnership firm​

Answer 1

Answer:

Amalgamation means to merge or to combine two or more business units carrying on same type of business and form a new busines unit. Amalgamation of partnership firms means merger of two or more partnership firms with. one another and form a new partnership firm.

Explanation:

When a new partner joins a partnership the old partnership is dissolved and a new partnership is formed. ... The new partner brings in new assets. The new partner purchases interest in partnership from existing partners at book value. The new partner pays a bonus for the partnership's goodwill;