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James Cavanaugh,proprietor Has Agreed to Take on a Partner

question 15

True/False

James Cavanaugh,proprietor has agreed to take on a partner.His net assets are market valued at $105,000 with book assets having a net value of $95,000.In the newly created partnership,Cavanaugh's capital will reflect the $95,000 book value of existing assets contributed to the new organization.


Definitions:

Ocular Lens

A transparent structure within the eye that focuses light onto the retina to form clear images.

Oil-immersion Objective

A type of microscope objective used with a drop of oil to increase magnification and resolution by minimizing refraction.

Field Diameter

The size of the area visible through a microscope's eyepiece.

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