A change in the ownership structure of the partnership occurs:
1. When the partnership changes to operate in a completely new industry or market.
2. When a new partner is admitted to the partnership.
3. When one of the partners dies.
4. When one of the partners retires.
5. When a new profit-sharing ratio of the partnership is agreed upon and effected.
Which one of the following alternatives form part of the instances of a changes in the partnership ownership structure?
a. 1, 3, 4 and 5
b. 1, 2, 3 and 5
c. 1, 2, 4 and 5
d. 2, 3, 4 and 5
e. 1, 2, 3 and 4
f. All of the above