A business is required at par when the
Purchase consideration equals goodwill
Purchase consideration equals net value
Purchase consideration is greater than the net value
Net assets is greater than the liabilities
Correct answer is B
No explanation has been provided for this answer.
N340,000 credit
N349,75 debit
N500.00 credit
N511.25 debit
Correct answer is C
No explanation has been provided for this answer.
N6.00
N7.25
N9.00
N9.75
Correct answer is D
No explanation has been provided for this answer.
An item of appropriation in partnership profit and loss account is
Interest on partners' capital
Interest on partners' loan
Employees' salaries
Partners' drawings
Correct answer is A
No explanation has been provided for this answer.
When a purchase business is revalued, the effect is that
A decrease in the value of asset has no effect on value of goodwill
An increase in the value of asset is treated as an increase in the value of goodwill
A decrease in the value of asset is treated as an decrease in the value of goodwill
An increase in the value of asset is treated as an decrease in the value of goodwill
Correct answer is D
No explanation has been provided for this answer.