Final answer:
True, a new partner given a 30% interest typically receives 30% of all future profits and losses, but this is dependent on the partnership agreement, and partners may also share liabilities.
Step-by-step explanation:
When a new partner is given a 30% interest in the partnership, it's typically true that they will receive 30% of all future profits and losses. However, partnerships can have varied agreements about the distribution of profits and losses, and it's essential to have a clear understanding in the partnership agreement.
Additionally, partners in a general partnership share the business's debts and liabilities, meaning they could be personally responsible for the actions of the other partners. This potential personal liability is in contrast with a limited liability partnership (LLP), where a partner's liability is limited to their investment in the company, protecting personal assets.