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If the partnership deed admits a minor only to benefits of partnership, in what will the minor not share?

Answer and explanation

Correct answer: Losses

A minor may be admitted to benefits of partnership but is not personally liable for losses. Remember the difference between benefit and loss.

Related tags

Minor AdmittedBenefitsLoss LiabilityPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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