Under the Bonus Method, When a New Partner Is Admitted

question 7

Multiple Choice

Under the bonus method, when a new partner is admitted to the partnership, the total capital of the new partnership is equal to:

• A)the book value of the previous partnership plus the fair market value of the consideration paid to the existing partnership by the incoming partner
• B)the book value of the previous partnership plus any necessary asset write ups from book value to market value plus the fair market value of the consideration paid to the existing partnership by the incoming partner
• C)the book value of the previous partnership minus any asset write downs from book to market value plus the fair market value of the consideration paid to the existing partnership by the incoming partner
• D)the fair market value of the new partnership as implied by the value of the incoming partner's consideration in exchange for an ownership percentage in the new partnership

Identify the essential elements of safety planning in domestic violence intervention and group work.

Understand the basics and steps involved in single-subject design.

Grasp the importance of maintaining confidentiality and proper procedures when a group member drops out.

Know the various types of evaluations used in group settings and their purposes.

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Definitions:

Cost of merchandise sold

The entire expense directly tied to the production and sale of products in inventory that were sold during a specific period.

Year amount

An expression referring to the total amount or figures calculated over a year's period.

Average cost method

An inventory costing method where the cost of goods sold and ending inventory is calculated based on the average cost of all units available for sale during the period.

Periodic system

An inventory accounting system in which updates to inventory levels and cost of goods sold are made at the end of an accounting period rather than after each sale.