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A sale of a general partnership interest:

a. automatically makes the purchaser a general partner.

b. is only the sale of the selling partner's economic interest in the partnership.

c. is automatically subject to the right-of-first-refusal granted by the Uniform Partnership Code to the other partners.

d. must first be approved by the other partners and approval may not be unreasonably withheld.

Accounting Basics, Accounting

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  • Reference No.:- M940627

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