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Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094

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Section
BuyFindarrow_forward

Accounting

27th Edition
WARREN + 5 others
ISBN: 9781337272094
Textbook Problem

Why might a partnership pay a bonus to a newly admitted partner?

To determine

Partnership

It is that form of organization which is owned and managed by two or more persons who invest and share the profits and losses according to a pre-determined ratio.

To explain: The reason for which partnership pays bonus to the newly admitted partner.

Explanation

Partnership firm pays bonus to the newly admitted partner because, the new partner is ...

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