What is the procedure for admission of a new partner in a partnership under the Partnership Act?

Q: Any of the following may make up a partnership EXCEPT: (A) Two or more Individuals. (B) A…

A: A partnership is a legal form of business organization in which two or more individuals, entities,…

Q: Is a limited partnership more likely or less likely to have a partnership agreement than a general…

A: The question is asking about the likelihood of having a partnership agreement in a limited…

Q: Discuss the consequences of incorporation of a company and elaborate on how different groups, such…

A: Incorporation is a legal procedure followed to create a corporate entity or company. A corporation…

Q: Define partnership with appropriate examples. Briefly explain three main characteristics of a…

A: Partnership : It is a form of business ownership And the owners will be two or more than two people…

Q: Why can't a business choose to for an LLC, but they can form an LLP?

A: Every business is different in terms of tax situations, many regulations have notable changes from…

Q: what forms of funding is needed to form a Limited partnership?

A: A limited partnership (LP) is a type of business structure that has two types of partners: general…

Q: describe a general partnership business venture that  would be interested in becoming involved in.…

A: A business organization refers to a legally recognised entity that is formed for carrying out…

Q: . Discuss the relative advantages and disadvantages of operating a business as a Limited Liability…

A: About Limited Liability Partnership- The limited liability partnership is the arrangement of…