Accountancy, asked by greengram544, 11 months ago

what is admission of a partner

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Answered by Anonymous

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Hi...here is ur answer...

An existing partnership firm may take up expansion/diversification of the business. In that case it may need managerial help or additional capital. An option before the partnership firm is to admit partner/partners. When apartner is admitted to the existingpartnership firm, it is calledadmission of a partner.

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