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.
Which of the following would be posted to the proprietor's capital account? ...
The term 'posting' in Accounting refers to ...
Which of the following is a prime cost? ...
The excess of cost of goods sold over net sales is ...
Given: Balance as per cash book...................N20,000 Unpresented cheques......................