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1. Partnership assets and total capital stay the same with the change in partners. -------------------------------- 2. Actions of partners are binding on all other partners.

1. Partnership assets and total capital stay the same with the change in partners. --------------------------------

2. Actions of partners are binding on all other partners. ----------------------------------

3. It is a compensation for differences in personal effort put into the partnership. ----------------------

4. Partnership is changed by the addition or withdrawal of a partner. -----------------------

5. There is a debit balance in a partner's capital account. ----------------------

6. Partnership is ended. ----------------------

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