Absorption
Merger
Conversion
Dissolution
Correct answer is A
No explanation has been provided for this answer.
On the dissolution of a partnership business,the net book value of the assets is transferred to?
Debit of realization account
Credit of realization account
Credit of bank account
Debit of bank account
Correct answer is B
No explanation has been provided for this answer.
If a partner pays a premium of N500 for 1/5 share of profit, then the total value of goodwill is?
N500
N2,000
N2,500
N3,000
Correct answer is A
No explanation has been provided for this answer.
50% : 25%
50% : 20%
25% : 50%
25% :25%
Correct answer is A
No explanation has been provided for this answer.
Partners' salaries and drawings are usually posted to the
Trading account
Current account
Capital account
Partners' account
Correct answer is B
No explanation has been provided for this answer.