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According to Section 31, Indian Partnership Act, 1932, when is a new partner not liable for debts incurred by the firm before admission?a)If the new partner provides additional capitalb)If the reconstituted firm assumes the liabilitiesc)If the creditors refuse the reconstituted firm as their debtord)If the new partner had no knowledge of the existing debtsCorrect answer is option 'C'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about According to Section 31, Indian Partnership Act, 1932, when is a new partner not liable for debts incurred by the firm before admission?a)If the new partner provides additional capitalb)If the reconstituted firm assumes the liabilitiesc)If the creditors refuse the reconstituted firm as their debtord)If the new partner had no knowledge of the existing debtsCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for According to Section 31, Indian Partnership Act, 1932, when is a new partner not liable for debts incurred by the firm before admission?a)If the new partner provides additional capitalb)If the reconstituted firm assumes the liabilitiesc)If the creditors refuse the reconstituted firm as their debtord)If the new partner had no knowledge of the existing debtsCorrect answer is option 'C'. Can you explain this answer?.

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