According to Section 31 of the Indian Partnership Act, 1932, a new partner can be admitted into an existing partnership firm: - Accountancy MCQ CUET Accountancy 2023 28 May Shift 1 2026 | ExamTest.live | ExamTest.live

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easyMCQCUET Accountancy 2023 28 May Shift 12026Accountancy

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According to Section 31 of the Indian Partnership Act, 1932, a new partner can be admitted into an existing partnership firm:

A $If all the existing partners agree$
B $If a majority of the existing partners agree$
C $If any one of the existing partners agrees$
D $If \frac{4}{5} th of the existing partners agree$

Solution & Step-by-step Explanation

Under Section 31 of the Indian Partnership Act, 1932, unless otherwise specified in the partnership deed, a new partner cannot be admitted into the firm without the unanimous consent of all existing partners.

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According to Section 31 of the Indian Partnership Act, 1932, a new partner can be admitted into an existing partnership firm:

A

If all the existing partners agree

B

If a majority of the existing partners agree

C

If any one of the existing partners agrees

D

If \frac{4}{5} th of the existing partners agree

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Partnership Admission Legal Provisions

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