When a Partner Withdraws His Interest in the Partnership, Both

question 48

True/False

When a partner withdraws his interest in the partnership, both assets and equity will decrease.

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Definitions:

Metamorphism

The process by which the mineral composition and structure of rocks are changed by heat and pressure, without melting.

Magma

Molten rock located beneath the earth's surface, which can erupt as lava during a volcanic eruption and solidify to form igneous rocks.

Heat

A form of energy associated with the movement of atoms and molecules in substances.

Deformation

Processes that cause a rock body to change position, orientation, size, or shape, such as by folding, faulting, and shearing.