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Signify True or False for each of the following items as they apply to admitting a new partner into a partnership. If a new partner
Signify "True" or "False" for each of the following items as they apply to admitting a new partner into a partnership. If a new partner purchases an interest from an existing partner, partnership assets will be affected by this transaction. [Choose] [Choose] If a bonus is allocated to the existing partners as the result of a new partner being admitted this means the new partner will start out with a debit balance in his capital account. [Choose] If a bonus is allocated to the new partner as a result of a new partner being admitted, the existing partners will each be allocated a portion of the bonus based on their relative capital balances
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