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Which is true about a partnership

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Reference no: EM132635510

Problem 1: Which of the following is true about a partnership?

Multiple Choice

Option 1: The old partnership ends only upon the withdrawal of a partner.

Option 2: If a new partner is admitted to the partnership, the old partnership must liquidate.

Option 3: The old partnership ends upon the acceptance of a new partner.

Option 4: Partnerships have an unlimited life.

Option 5: Only one owner is allowed in a Partnership.

Reference no: EM132635510

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