If an existing partner withdraws from a partnership which is true a. his or her interest may be sold to the partnership or an individual partner. b. the consideration received for that partner's interest may suggest the existence of undervalued existing assets and/or goodwill. c. either the bonus or the goodwill method may be used to record the transaction if the partnership acquires the withdrawing partner's interest. d. all of the above
If an existing partner withdraws from a partnership which is true a. his or her interest may be sold to the partnership or an individual partner. b. the consideration received for that partner's interest may suggest the existence of undervalued existing assets and/or goodwill. c. either the bonus or the goodwill method may be used to record the transaction if the partnership acquires the withdrawing partner's interest. d. all of the above
Chapter20: Corporations And Parterships
Section: Chapter Questions
Problem 21DQ
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Question
If an existing partner withdraws from a partnership which is true
|
a. |
his or her interest may be sold to the partnership or an individual partner. |
|
b. |
the consideration received for that partner's interest may suggest the existence of undervalued existing assets and/or |
|
c. |
either the bonus or the goodwill method may be used to record the transaction if the partnership acquires the withdrawing partner's interest. |
|
d. |
all of the above |
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ISBN:
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Author:
Hoffman
Publisher:
CENGAGE LEARNING - CONSIGNMENT