If a partner who retired from the partnership receives less than the capital balance before retirement which also resulted to decrease in the capital balance of remaining partners, which is correct? a. The retiring partner receives bonus from remaining partners b. An impairment loss is recognized before the retirement c. Revaluation surplus is recognized before the retirement d. The retiring partner gives bonus to the remaining partner
If a partner who retired from the partnership receives less than the capital balance before retirement which also resulted to decrease in the capital balance of remaining partners, which is correct? a. The retiring partner receives bonus from remaining partners b. An impairment loss is recognized before the retirement c. Revaluation surplus is recognized before the retirement d. The retiring partner gives bonus to the remaining partner
Chapter21: Partnerships
Section: Chapter Questions
Problem 5BCRQ
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Question
If a partner who retired from the
a. The retiring partner receives bonus from remaining partners
b. An impairment loss is recognized before the retirement
c. Revaluation surplus is recognized before the retirement
d. The retiring partner gives bonus to the remaining partner
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