Which conditions constitute legal dissolution of partnership

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Reference no: EM132770083

Problem 1. Which of the following conditions constitute a legal dissolution of a partnership?

A. Death of partner

B. Retirement of a partner

C. Admission of a partner

D. All of the above

Problem 2. When admitting a new partner into an existing partnership, any allocation of bonus to the old partners is based on:

A. The profit and loss ratio

B. An equal distribution among the partners

C. The fair values of the assets each partner has contributed to the partnership

D. The relative capital balances of the partners

Reference no: EM132770083

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