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Reconstitution of Partnership

Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted:

A) Alter in Profit Sharing Ratio
B) Admission of a partner
C) Retirement or Death of a partner

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    Meaning of Reconstitution: Any alter in agreement of partnership is termed as reconstitution of partnership firm. In following circumstances a partnership firm might be reconstituted: A) Alter in Profit Sharing Rat

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