If a New Partner Is to Be Admitted to a Partnership

question 190

True/False

If a new partner is to be admitted to a partnership and a bonus is attributed to the old partnership, the bonus should be divided between the capital accounts of the original partners according to their capital balances.

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Definitions:

Accident-Prone

A tendency to be more likely to experience accidents than the average person.

Optimistic

The tendency to see the positive side of things and expect the best possible outcome.

Retirement

The act of leaving one's job or career, often due to reaching a certain age, and transitioning into a phase of life with potentially reduced involvement in professional activities.

Potentially Violent Employee

An employee who exhibits behaviors or tendencies that could indicate a risk of committing acts of violence in the workplace.