100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
FAC1602 ASSESMENT 2 SEMESTER 2 2024 When a new partner is admitted to a partnership, the old partnership automatically continues without any changes to the ownership structure. True False What happens to the capital accounts of partners when goodwill $2.79   Add to cart

Exam (elaborations)

FAC1602 ASSESMENT 2 SEMESTER 2 2024 When a new partner is admitted to a partnership, the old partnership automatically continues without any changes to the ownership structure. True False What happens to the capital accounts of partners when goodwill

 11 views  0 purchase
  • Course
  • Institution
  • Book

FAC1602 ASSESMENT 2 SEMESTER 2 2024 When a new partner is admitted to a partnership, the old partnership automatically continues without any changes to the ownership structure. True False What happens to the capital accounts of partners when goodwill is recorded for the rst time upon th...

[Show more]

Preview 4 out of 356  pages

  • September 16, 2024
  • 356
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
avatar-seller
BMZ ACADEMY




BMZ ACADEMY




@061 262 1185/068 053 8213



BMZ ACADEMY 061 262 1185/068 053 8213

,9/16/24, 9:01 PM Assessment 2 (page 2 of 11)




FAC1602-24-S2  Welcome Message  Assessment 2

QUIZ




Time left 2:57:48

Question 2
Answer saved

Marked out of 2.00




When a partner retires, how is their share in the partnership typically settled?


a. By issuing them additional capital
b. By revaluing the partnership’s assets
c. By adjusting the partner’s drawings account
d. By paying the retiring partner with partnership funds or selling the interest
to the remaining partners

Clear my choice




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22317329&cmid=1008892&page=1 1/1

,9/16/24, 9:01 PM Assessment 2 (page 3 of 11)




FAC1602-24-S2  Welcome Message  Assessment 2

QUIZ




Time left 2:57:51

Question 3
Answer saved

Marked out of 2.00




What happens to the capital accounts of partners when goodwill is recorded for the
first time upon the admission of a new partner?


a. They are closed off and reopened with goodwill allocations
b. They are credited with goodwill based on the old profit-sharing ratio
c. They remain unchanged
d. They are adjusted based on the new partner’s contribution

Clear my choice




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22317329&cmid=1008892&page=2 1/1

, 9/16/24, 9:01 PM Assessment 2 (page 4 of 11)




FAC1602-24-S2  Welcome Message  Assessment 2

QUIZ




Time left 2:57:58




https://mymodules.dtls.unisa.ac.za/mod/quiz/attempt.php?attempt=22317329&cmid=1008892&page=3 1/2

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller BMZAcademy. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $2.79. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

79271 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$2.79
  • (0)
  Add to cart