Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

A new partner can be admitted with the consent of........ partners in a partnership firm.

Options:

All

Majority

Minor

Any 5 partners

Correct Answer:

All

Explanation:

The correct answer is option 1- All.

All partners must agree to admit a new partner. If any partner denies, then partner cannot be admitted in the firm because consent of all partners is necessary. According to the Indian Partnership Act, 1932, a new partner can be admitted only with the consent of all existing partners, unless there is an agreement stating otherwise.