A minor partner can be admitted into a firm as a partner for ____________.

Guaranteed profit

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Equal profit and loss

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Profit only

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Reasonable profit and nominal loss

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Solution

The correct option is A Profit only
With the consent of all the partners, a minor may be admitted to the partnership firm for the time being. He may be admitted to the benefits of the firm.

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Q. A is admitted as a nominal partner in the firm of P, Q and R. He can become a partner by ______________________.

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A minor partner can be admitted into a firm as a partner for ____________.

The correct option is A Profit onlyWith the consent of all the partners, a minor may be admitted to the partnership firm for the time being. He may be admitted to the benefits of the firm.

The correct option is A Profit only
With the consent of all the partners, a minor may be admitted to the partnership firm for the time being. He may be admitted to the benefits of the firm.