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WhaT do You mean By admission?

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WhaT do You mean By admission?

Posted by Riya Verma 6 years, 5 months ago

CBSE > Class 12 > Accountancy

3 answers

Sia ? 6 years, 5 months ago

When a new person joins as a partner in the firm, it is known as admission of a new partner. As a consequence old partnership comes to an end and new partnership comes into existence.

Riya Verma 6 years, 5 months ago

Plz explain briefly in short sentences

Palak Singh 6 years, 5 months ago

When there is lack of capital in the firm then the new partner is admitted who brings capital and goodwill for the firm.

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