For what purpose a new partner is admitted in a firm ? – InterviewSolution

1.

For what purpose a new partner is admitted in a firm ?

Answer»

A new partner may be admitted in a continuing firm because of the following reasons :

When continuing firm needs additional capital, additional managerial ability.
For the distribution of risk of the partnership firm.
When any continuing partner retires or dies.
When services or skilled and efficient employees of the firm is required.

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