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Admission of New Partner

To admit a ne...

Question

To admit a new Partner, unless there is a contract to the contrary, consent is required from _________.

A

all the existing Partners.

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B

majority of the existing Partners.

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C

any one of the existing Partner.

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D

all the working Partners.

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Solution

The correct option is A all the existing Partners.
Option a is the correct answer.

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Q. A new partner can be admitted only with the consent of all the existing partners according to __________.

Q. According to the provisions of _____________ unless it is otherwise provided in the partnership deed a new partner can be admitted only when the existing partners unanimously agree for it.

Q. Unless there is contract to the contrary, which of these requires unanimous decision by all partners.

Q. On admission of a new partner, the existing balance of ______ is not transferred to old partners capital a/c.

Q. On retirement of a partner, the existing balance of general reserve and accumulated profit is transferred to all the partners capital a/c in the ____________.

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