A New Partner Was Admitted, but the Assets Weren't Revalued

Multiple Choice

A new partner was admitted, but the assets weren't revalued. A revaluation would have decreased the equity of the partner and partnership. This error would cause:

A) the future periods' net income to be understated.
B) the future periods' net income to be overstated.
C) this period's end assets to be understated.
D) the new partner's capital to be overstated.