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What happens when an additional partner is admitted to a partnership by a contribution of assets to the partnership? A. The total assets of the
What happens when an additional partner is admitted to a partnership by a contribution of assets to the partnership?
A. The total assets of the partnership do not change.
B. No liabilities can be contributed at the same time.
C. The amount of the asset contribution is the same as the amount of the debit to the new partners capital account.
D. The total of the partners equity accounts increases.
E. None of the above.
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