1 When a new partner is admitted by purchasing an interest from one or more of the existing partners, the total assets and the total owners' equity of the partnership are a increased b decreased c not affected d None of these are correct 1 When a new partner is admitted by purchasing an interest from one or more of the existing partners, the total assets and the total owners' equity of the partnership are a increased b decreased c not affected d None of these are correct

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1. When a new partner is admitted by purchasing an interest from one or more of the existing partners, the total assets and the total

1. When a new partner is admitted by purchasing an interest from one or more of the existing partners, the total assets and the total owners' equity of the partnership are a. increased b. decreased c. not affected d. None of these are correct

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