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When a New Partner Is Admitted into a Partnership and the Old

question 20

Multiple Choice

When a new partner is admitted into a partnership and the old partners' goodwill is recognized,the goodwill is allocated to:
I.all the partners in their profit-and-loss-sharing ratio.
II.the old partners in their profit and loss sharing ratio.


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Investigative Consumer Report

A detailed report about a consumer's character, general reputation, personal characteristics, or mode of living, obtained through personal interviews and other means.

Personal Traits

Characteristics or qualities that define an individual's personality, behaviors, and attitudes.

Credit-Related Information

Information pertaining to an individual's or entity's credit history, including credit scores, payment history, and other data used to assess creditworthiness.

Equal Credit Opportunity Act

A U.S. law that prohibits discrimination in credit transactions based on race, color, religion, national origin, sex, marital status, age, or because a person receives public assistance.

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