When a partner is added to a partnership:
A)The previous partnership ends.
B)The underlying business operations ends.
C)The underlying business operations must close and then reopen.
D)The partnership must continue.
E)The partnership equity always increases.

Question

Quizplus · Accepted Answer

When a new partner is added, the existing partnership is legally dissolved and a new partnership is formed, even though the business operations may continue as usual.

When a Partner Is Added to a Partnership