Which of the Following Is Correct When Admitting a New $\quad$

question 90

Short Answer

Which of the following is correct when admitting a new partner into an existing partnership? $\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\quad$$\begin{array}{ccc} \underline{\text { Purchase of an Interest}}& \underline{\text { Admission by Investment}}\end{array}$
A) $\begin{array}{ccc}\text { Total net assets } & \text { unchanged } &&&&&& \text { unchanged } \\\end{array}$
B) $\begin{array}{ccc}\text {Total capital } &&& \text { increased } &&&&&& \text { unchanged } \\\end{array}$
C) $\begin{array}{ccc}\text { Total net assets } & \text { unchanged } &&&&&& \text { increased } \\\end{array}$
D) $\begin{array}{ccc}\text { Total capital } &&& \text { unchanged } &&&&& \text { unchanged }\end{array}$

• A)\(\begin{array}{ccc}
• \text { Total net assets } & \text { unchanged } &&&&&& \text { unchanged } \\\end{array}\)
• B)\(\begin{array}{ccc}\text {Total capital } &&& \text { increased } &&&&&& \text { unchanged } \\\end{array}\)
• C)\(\begin{array}{ccc}\text { Total net assets } & \text { unchanged } &&&&&& \text { increased } \\\end{array}\)
• D)\(\begin{array}{ccc}\text { Total capital } &&& \text { unchanged } &&&&& \text { unchanged }
• \end{array}\)

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