Which of the following statements is not true in relation to the admission of a partner
A. Generally mutual rights of the partners change
B. The profits and losses of the previous years are distributed to the old partners
C. The firm is reconstituted under a new agreement
D. The existing agreement does not come to an end
Answer:D
Which of the following statements is not true in relation to the admission of a partner
A. Generally mutual rights of the partners change B. The profits and losses of the previous years are distributed to the old partners C. The firm is reconstituted under a new agreement D. The existing agreement does not come to an end