what is new partner admitted ??
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A new partner is admitted to the existing partnership firm to increase the capital resources of the firm and to secure advantages of a new entrant's skill and business connections, i.e. goodwill.
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Admission of a New partner in a Partnership According to the partnership act, no new partner can be taken in a firm without the consent of all the existing partners. the new partner when admitted is called “Incoming Partner”. an incoming partner is not liable for any act of the firm done before he became a partner.
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