For a New Partner to Be Admitted to a Partnership

question 11

True/False

For a new partner to be admitted to a partnership, there must be a consensus of the existing partners.

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Definitions:

Worse Off

A situation in which an individual or group is in a less favorable or more disadvantageous position than before.

International Trade

entails the exchange of goods and services across international borders or territories, influenced by comparative advantages, exchange rates, and global economic policies.

Firms

Business entities or organizations that engage in commercial, industrial, or professional activities.

Budget Surplus

When federal tax receipts are greater than federal government spending.