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State any one purpose for admitting a new partner in a firm.

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

When a firm requires more capital to expand its business, it may admit a new partner.








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Previous PostGive the two main rights acquired by the new partner.
Next PostState the ratio in which the old partners share the amount of cash brought in by the new partner as premium for goodwill.

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