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    Accounting Study Set 4
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    Exam 12: Accounting for Partnerships and Limited Liability Companies
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    In Admitting a New Partner Who Purchases an Interest, the Capital
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In Admitting a New Partner Who Purchases an Interest, the Capital

Question 110

Question 110

True/False

In admitting a new partner who purchases an interest, the capital interest of the new partner is obtained from the current partners and both the total assets and total capital are increased.

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