Answer:
The correct answer is letter (1): The previous partnership ends.
Explanation:
A partnership is an organization where two or more individuals operate a business. They share the profits in proportion to their percentage partnership interest. There are two (2) types of partnerships: general partnerships and limited partnerships. General partnerships share unlimited liability, while limited partnerships do not. In any of the cases, if a new partner is to be added to the organization, the previous partnership dissolves.
