If a sole proprietorship is purchased for cash, then?
...If a sole proprietorship is purchased for cash, then?
The purchaser debits his business purchase account with the consideration he pays
All assets and liabilities must be bought
Goodwill results where value of assets
The vendor debits his business purchase account with the considerstion he receives
Correct answer is A
No explanation has been provided for this answer.
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\(\begin{array}{c|c} & ₦ \\ \hline \text{Opening balance} & 1,894 Dr \\ \text{Cheques rece...