Which of the following statement is true regarding the admission of a new partner? a. New partner can gain admission by contributing assets to an existing partner. b. Using the bonus method,...

Which of the following statement is true regarding the admission of a new partner?

a. New partner can gain admission by contributing assets to an existing partner.

b. Using the bonus method, unrecognized asset appreciations are recognized.

c. Using the goodwill method, only write-downs of the net assets are recognized.

d. The admission of a new partner requires the approval of the creditor (e.g., bank).

Jun 09, 2022

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