Admission of a new partner never has an impact on net income.
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Q38: When the existing partners pay a bonus
Q39: When M purchases N's $10,000 capital interest
Q40: Income and losses are divided equally among
Q41: Partner A purchases partner B's $3,000 interest
Q42: Liquidation of a partnership is the process
Q44: When a partner leaves a partnership,it is
Q45: A new partner must have the consent
Q46: The admission of a partner does not
Q47: When a withdrawing partner withdraws assets less
Q48: A partner's inability to meet his or
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