Which of the following instances does not dissolve the partnership? Group of answer choices a. Admission of Mr. X in the ANC Partnership. b. Assignment of partners’ interest to another partner. c. Insanity of a partner in the partnership. d. Investment of a new partner in the partnership.
Which of the following instances does not dissolve the
Which of the following instances does not dissolve the partnership?
When Jill retired from the partnership of Jill, Bill and Hill, the final settlement of her interest exceeded her capital balance. Under the bonus method, the excess
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I. |
The use of average capital in distributing |
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II. |
When partners are entitled to salaries, they are to be credited for this even when the operation results in a loss. |
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I. |
In fairness to the existing partner and to the partner to be admitted, asset revaluation is to be undertaken before a new partner is admitted. |
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II. |
To be a partner in an existing partnership one must buy the equity (whole or in part) of an existing partner. |
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