In a partnership,a person can become a partner by purchasing an existing partner's interest.

Name: In a partnership,a person can become a partner by purchasing an existing partner's interest.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is true. It is possible for a person to become a partner in a partnership by purchasing an existing partner's interest, as long as the other partners agree to the new partnership arrangement. This can also occur if a partner chooses to sell their share or retire from the partnership.

In a Partnership,a Person Can Become a Partner by Purchasing