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 Companies Act, 2013.
Show Hint
- 1
- 6
- 5
- 3
The Correct Option is C
Solution and Explanation
Explanation of the Companies Act, 2013 limit According to Section 464 of the Companies Act, 2013, a partnership firm can have a maximum of 50 partners unless it is registered as a company.
Calculating the remaining number of partners that can be added Currently, the partnership firm has 45 partners. The maximum allowable limit is 50 partners. \[ {Remaining partners that can be admitted} = 50 - 45 = 5 \]
Conclusion of the Solution Therefore, only 5 more partners can be admitted into the partnership firm.
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