When a New Partner Is Admitted into an Existing Partnership

question 42

Multiple Choice

When a new partner is admitted into an existing partnership, the new partner is

• A) liable for all prior debts of the partnership.
• B) liable for prior debts up to the amount invested.
• C) not liable for any prior debts.
• D) none of these.

---

Definitions:

Training Contract

A formal agreement between a trainee and an organization, outlining the terms and conditions of training, often used in professional fields.

Reflect on Weaknesses

The process of self-assessment to identify areas of improvement or gaps in knowledge and skills.

Robert Gagné's

Refers to the influential work of educational psychologist Robert M. Gagné, especially his conditions of learning and the theory of instructional design.

Learning Guidance

Support and direction provided to learners to facilitate the acquisition of knowledge and skills.