From which of the following sources can partnership incre...
From which of the following sources can partnership increase their capital?
Sales of shares
Admission of new partners
Discharge of mortgage
Grants from relatives
Correct answer is B
Partnership. An association of two or more persons engaged in a business enterprise in which the profits and losses are shared proportionally. A partnership can maintain a single partnership capital account for all partners, with a supporting schedule that breaks down the capital account for each partner
Admission of new partners is a major source of increasing capital in partnership
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