If a New Partner Purchases an Interest in a Partnership

question 6

True/False

If a new partner purchases an interest in a partnership firm directly from an existing partner, the Cash account is debited and the new partner's capital account is credited.

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Definitions:

Barriers to Listening

Factors that hinder effective listening, including both internal distractions, like biases or preoccupations, and external interruptions, like noise.

Physical

Pertaining to the body, material objects, or the tangible aspects of a person or thing.

Effective Listening

A communication skill that involves actively focusing on and understanding the speaker's message, demonstrating attention and empathy.

Listening to Managers

The act of actively paying attention to information or instructions given by managerial personnel.