A bonus paid to the old partners by a new partner increases the old partners' capital accounts.

Name: A bonus paid to the old partners by a new partner increases the old partners' capital accounts.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When a new partner joins, they typically pay a sum of money to the existing partners, which is called a bonus. This bonus is then added to the old partners' capital accounts, increasing their balances.

A Bonus Paid to the Old Partners by a New