The Admission of a New Partner to an Existing Partnership

question 57

Multiple Choice

The admission of a new partner to an existing partnership

• A) may be accomplished only by investing assets in the partnership.
• B) requires purchasing the interest of one or more existing partners.
• C) causes a legal dissolution of the existing partnership.
• D) is almost always accompanied by the liquidation of the business.

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Definitions:

Self-Regulation

Strategies that we use to match our behaviour to an ideal or ‘ought’ standard.

Self-Identity

An individual's perception of themselves concerning their traits, beliefs, and relationships, which contributes to their overall sense of self.

Defense Mechanism

Psychological strategies used by individuals to cope with reality and maintain self-image.

Own Feelings

A person's personal emotional responses or states.