_____ When a Person Is Being Admitted into a Partnership

Multiple Choice

_____ When a person is being admitted into a partnership and the bonus method has been selected,

A) Assets are revalued to their fair (current) values.
B) An entry is made solely within the capital accounts.
C) No entries are made in the partnership's books.
D) The new partner may receive a credit to his or her capital account that is more or less than the amount of such partner's capital contribution.
E) None of the above.