Question

WHAT IS THE REASONS OF ADMITTED NEW PARTNER IN PARTNERSHIP FIRM

Answer 1

Answer:

Increase the capital of the firm for the expansion plans of the business.

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Answer 2

Explanation:

What is the purpose of admission of a Partner? Answer: Sometimes, it becomes difficult to run the partnership business due to lack of sufficient capital or managerial help or both. In this case a firm may decide to admit a new partner into the firm