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Is admission of a new partner is a reconstitution of partnership firm:
  • a)
    No
  • b)
    It is called merger
  • c)
    Yes
  • d)
    It is dissolution of firm
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Is admission of a new partner is a reconstitution of partnership firm:...
Admission of a new partner will reconstitute the partnership firm. It means it is the end of old partnership and beginning of a new partnership among the partners. It does not mean the end of the firm.
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Is admission of a new partner is a reconstitution of partnership firm:a)Nob)It is called mergerc)Yesd)It is dissolution of firmCorrect answer is option 'C'. Can you explain this answer?
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