A partnership

A)	is an association of one or more individuals.

B)	is not an accounting entity for financial reporting purposes.

C)	has a limited life.

D)	pays income tax on partnership profit.

I think this is C

Accounting for the admission of a new partner by purchase of a partner's interest will

A)	increase total capital.

B)	decrease total capital.

C)	increase total assets and total capital.

D)	not affect total assets, liabilities, and capital.

I think this is C