October 12, 2018

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Reconstitution of Partnership – Admission of a Partner

Cash flow Statements Practice Paper-Accountancy Class XII



Reconstitution of Partnership – Admission of a Partner

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 a partner is admitted to the existing partnership firm, it is called admission of a partner.




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