Which of the Following Is TRUE of Ownership Changes in a Partnership

question 40

Multiple Choice

Which of the following is TRUE of ownership changes in a partnership?

• A) Admitting a new partner does not change the core structure of the old partnership.
• B) The purchase of an existing partner's interest is a transaction between the new partner and the partnership firm.
• C) Any time the partner mix changes, the old partnership ceases to exist and a new partnership begins.
• D) A person can become a partner by purchasing an existing partner's interest, even without the approval of the other partners.

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Definitions:

One-Day Strikes

A form of labor strike where employees stop working for a single day as a protest to advocate for their rights, typically to send a strong message to the employer.

National War Labor Board

A historical agency established during wartime to prevent labor disputes from disrupting war production by resolving issues between workers and employers.

Labor Disputes

Conflicts between workers and their employers typically concerning conditions of employment, wages, benefits, and union rights.

Unfair Labor Practices

Actions by employers or unions that violate the rights of employees with respect to union activity and collective bargaining.