Multiple Choice
When a new partner is admitted into a partnership and the old partners' goodwill is recognized,the goodwill is allocated to:
I.all the partners in their profit-and-loss-sharing ratio.
II.the old partners in their profit and loss sharing ratio.
A) I only
B) II only
C) Either I or II
D) Neither I nor II
Correct Answer:
Verified
Correct Answer:
Verified
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