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

question 113

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:

Phase Angle

The difference in phase between the inputs and outputs of a system, often measured in degrees or radians.

Parallel Circuit

An electrical circuit in which components are connected so that the same voltage is applied to each component, but the total current is divided among the components.

Inductive Reactance

The opposition that an inductor presents to alternating current, due to its inductance, proportional to the frequency of the current.

Confederation Congress

The governing body of the United States under the Articles of Confederation, serving from 1781 to 1789, before the adoption of the Constitution.