Question

A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only ______ more partners can be admitted in the partnership firm according to the Companies Act, 2013.

Options

• 1

• 6

• 5

• 3

Answer 1

A partnership firm has 45 partners. It wants to admit 7 more partners into partnership. Only 5 more partners can be admitted in the partnership firm according to the Companies Act, 2013.

Explanation:

According to the Partnership Act of 2013, a partnership firm can admit up to 50 partners.