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Give the two main rights acquired by the new partner.

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

SOLUTION

(i)Right to share future profits of the firm, and (ii) Right to share the assets of the firm.








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Previous PostAt the time of admission of a partner, who decides the share of profit of the new partner out of the firm’s profit?
Next PostState any one purpose for admitting a new partner in a firm.

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