When an existing partner sells his interest to another party in a personal transaction ________.
A) it is considered a transaction between the partnership and the new party
B) the old partnership will continue functioning, since the partner is replaced by another party without
diluting the old partnership
C) the journal entry simply debits the withdrawing partner's capital account and credits the new partner's
capital
D) the equity and assets in the balance sheet always increase by the same amount
C) the journal entry simply debits the withdrawing partner's capital account and credits the new partner's capital
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Putable bonds give the bondholders an option to sell the bond at a price higher than par value by the amount of one year interest payment when and if the firm takes specified actions such as being acquired, acquiring another company, or issuing a
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Answer the following statement true (T) or false (F)
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Indicate whether the statement is true or false