When a partner sells his interest to another party, the journal entry simply credits the withdrawing partner's capital account and debits the new partner's capital.
A) Admitting a new partner does not change the core structure of the old partnership.
B) The purchase of an existing partner's interest is a transaction between the new partner and the
partnership firm.
C) Any time the partner mix changes, the old partnership ceases to exist and a new partnership begins.
D) A person can become a partner by purchasing an existing partner's interest, even without the approval
of the other partners.
C) Any time the partner mix changes, the old partnership ceases to exist and a new partnership begins.
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a. fair interest rate b. average interest rate c. future interest rate d. yield to maturity e. past interest rate
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What will be an ideal response?
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Answer the following statement true (T) or false (F)
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