Partnership Dissolution

True or False

Admission of a new partner by investment will change total assets and total capital

True or False

When a partner is admitted, the partnership may continue operations based o a new contract among the partners.

True or False

The total assets of the partnership will increase upon admission of a new partner by purchase of interest.

True or False

A new partner may be admitted into the partnership with the consent of the majority of the old partners.

True or False

A partnership dissolution will always lead to a partnership liquidation.

True or False

Bonus to a new partner is given by the old partners.

True or False

If the agreed capital exceed total contributed capital, the difference may be positive asset revaluation.

True or False

If the capital credit of the partner is less than his investment, the difference is always recorded as asset revaluation.

True or False

The admission of a new partner in an existing partnership dissolves the old partner.

True or False

A new partner may be admitted without an investment and without the recognition of capital interest.