Advertisements
Advertisements
Question
Answer in one sentence only.
What is meant by Reconstitution of partnership ?
One Line Answer
Advertisements
Solution 1
Reconstitution of partnership refers to a change in the existing relationship of partners due to a change in the existing agreement between them. It may be due to the change in profit sharing ratio, on the eve of admission of a new partner, retirement or death of an existing partner.
shaalaa.com
Solution 2
Reconstitution of partnership means a change in the relationship between/among partners and in the form of partnership.
shaalaa.com
Is there an error in this question or solution?
