Examlex

Solved

When a New Partner Is Admitted by Making an Investment

question 203

True/False

When a new partner is admitted by making an investment of assets in the partnership and the new partner has to pay a premium for admission, a bonus is divided among the old partners' capital accounts.


Definitions:

Nephridia

Excretory organs in many invertebrates, including annelids, that serve to remove metabolic wastes from an organism’s body.

Earthworm

A terrestrial invertebrate belonging to the phylum Annelida, known for its role in aerating the soil and enhancing soil fertility.

Bladder

A hollow organ in the lower abdomen that stores urine from the kidneys before disposal.

Excretion

The biological process by which organisms remove waste products from their bodies to maintain homeostasis.

Related Questions