Which of the Following Statements Is Correct Regarding the Admission

question 89

Multiple Choice

Which of the following statements is correct regarding the admission of a new partner?

• A) A new partner must purchase a partnership interest directly from the business.
• B) The right of co-ownership in the business property can be transferred to a new partner without the consent of other existing partners.
• C) The right to participate in management of the business cannot be conveyed without the consent of other existing partners.
• D) The right to share in profits and losses can be sold to a new partner without the consent of other existing partners.
• E) A new partner always pays book value.

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Definitions:

Self-Deception

The process of denying or rationalizing away the relevance, significance, or truth of one's own thoughts, emotions, or beliefs.

Psychosexual Stages

Freud's theory of developmental stages through which a child's libido is focused on different erogenous zones from birth through adolescence.

Sexual

Pertaining to the biological differences between males and females and activities related to physical attraction or intimate physical contact.

Pleasure-Giving Urge

Denotes an intrinsic motivation or desire to seek activities or stimuli that provide enjoyment, satisfaction, or pleasure.