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:

Farm Price Supports

Government subsidies designed to maintain the income of farmers by stabilizing the prices of agricultural products.

Corporate Farms

Large-scale agricultural operations owned or operated by companies rather than individuals or families, often involved in intensive farming practices.

Agriculture

The practice of cultivating the soil, growing crops, and raising livestock for human consumption and use.

Productive Sectors

Parts of the economy that are directly involved in producing goods and services, contributing to the economic output.