If a partner takes over an asset of the firm, his capital account:
A) will be debited with the amount as agreed
B) will be credited with the market value of the asset
C) will be debited with book value of the asset
D) none of above
Correct Answer:
Verified
Q1: Retirement or death of a partner.
A)is dissolution
Q2: If all the partners, but one are
Q3: If all the partners, but one, are
Q4: At the time of dissolution:
A)all the assets
Q5: At the time of dissolution non -
Q7: Loss on realization is distributed among partners:
A)according
Q8: Loss on realization is:
A)debited to partners capital
Q9: When all partners are insolvent creditors will
Q10: The persons who have entered into a
Q11: The persons who have entered into a
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