Accountancy, asked by sarthakchawla656, 1 month ago

Normally, share of old partners will _____________ if new partner admit in the firm.

Answers

Answered by mahisriguntur

Answer:

A new partner is admitted to the firm by the mutual consent of all the existing partners. A new agreement is formed between the old and the new partners and the firm is reconstituted. The new partner has the right to share in the assets and profits of the firm.

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