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Partner's Capital Account Adjustments(Death)

If the remain...

Question

If the remaining partner wants to continue the business, after the retirement of a partner, a new partnership agreement is ______.

A

necessary

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B

not necessary

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C

optional

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D

none of above

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Solution

The correct option is A necessary
Retirement, admission, death of partner leads to reconstitution of the firm where old partnership agreement comes to an end and new partnership agreement is formed.

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Partner's Capital Account Adjustments(Death)

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