A, B and C are partners in a firm, if D is admitted as a new partner:
A. Old firm is dissolved
B. Old firm and old partnership are dissolved
C. Old partnership is reconstituted
D. None of these
Answer:C
A, B and C are partners in a firm, if D is admitted as a new partner:
A. Old firm is dissolved B. Old firm and old partnership are dissolved C. Old partnership is reconstituted D. None of these