A newly admitted partner acquires two main rights in the partnership firm. Identify the correct rights of newly admitted partner.
(A) Right to share assets of the partnership firm
(B) Right to claim interest on capital
(C) Right to claim remuneration for firm's work
(D) Right to share profits of the partnership firm
Choose the correct answer form the options given below:
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → (A) and (D) only
On admission, the new partner brings capital in return for a share in the firm’s assets and profits. Interest on capital and remuneration are not rights he gets by being admitted; they arise only if the partnership deed provides for them.
(A) Right to share assets of the partnership firm — True. One of the two main rights.
(B) Right to claim interest on capital — False. Interest on capital is allowed only if the deed provides for it.
(C) Right to claim remuneration for firm’s work — False. A partner gets no salary or commission unless the deed allows it.
(D) Right to share profits of the partnership firm — True. The other main right.
NCERT (2026-27 edition): |