In the partnership of ABC, B sold the partnership interest share to D. Whowill receive the cashpayment made by D?partner Bthe partnershippartners A, B and CO partners A and B Admission of a new partner by investment will *Increase the assets of the partnership onlynone of theseIncrease the capitalization of the partnership onlyIncrease both the assets and capitalization of the partnership

Introduction A partnership refers to a business where two or more persons come together and…

Answered: In the partnership of ABC, B sold the…

In the partnership of ABC, B sold the partnership interest share to D. Who will receive the cash payment made by D? O partner B O the partnership O partners A, B and C O partners A and B

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

In the partnership of ABC, B sold the partnership interest share to D. Who
will receive the cash
payment made by D?
partner B
the partnership
partners A, B and C
O partners A and B

Admission of a new partner by investment will *
Increase the assets of the partnership only
none of these
Increase the capitalization of the partnership only
Increase both the assets and capitalization of the partnership

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