The amount paid by a new partner on admission as a compen...
The amount paid by a new partner on admission as a compensation for the reputation built up by old partners is a
Bonus
Commission
Premium
Goodwill
Correct answer is D
Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable.
Use the following information to answer the given question \(\begin{array}{c|c} & Ade &...
Cost of raw materials available------ 32,000 Manufacturing wages -----10,000 Factory expenses...
Which of the following concepts recognizes the principle of double entry? ...
In a situation of incomplete records, profit is determined as ...
\(\begin{array}{c|c} & N\\ \hline \text{Motor Van} & 120,000\\ \text{Buildings} & 300,00...
When shares are sold at more than the par value, they are said to have been issued at ...
The two recognised accounting bases are ...
Use the information to answer the given question. RECEIPTS AND PAYMENTS ACCOUNT: \(\begin{array}{...