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Find which the admission of a new partner

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Reference no: EM132744917

Problem 1: The admission of a new partner

a. does not have an effect on the capital balances of the original partners

b. will decrease the capital balances of the original partners.

c. will increase the capital balances of the original partners,

d. Any of the above

Problem 2: Liquidation differs from dissolution in that in liquidation

a. the business will no longer continues

b. assets will be revalued.

c. gains and losses are distributed according to the partnership agreements

d. There are no differences between the two.

Reference no: EM132744917

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