1. When a partner retires from the business, the partner's interest may be purchased by one or more of the remaining partners or by an outside party.

True

False

.

2. The partnership form of organization is more popular among professional service enterprises than among merchandise enterprises.

True

False

.

3. The admission of a new partner calls for the amendment of the old partnership agreement, but not a dissolution of the old partnership.

True

False

.

4. Dissolution of a partnership

a.implies that the business cannot continue with a new group of partners.

b.occurs when there is any change in the members of the partnership.

c.implies that the business cannot form a different ownership structure.

d.implies that the business operations will halt.