P, L, and O Are Partners with Capital Balances of $50,000

question 48

Multiple Choice

P, L, and O are partners with capital balances of $50,000, $30,000 and $20,000 and who share in the profit and loss of the PLO partnership 30%, 20%, and 50%, respectively, when they agree to admit C for a 20% interest.C contributes $10,000 to the partnership and the goodwill method is used.What will be the result of the goodwill calculation?

• A) Goodwill of $15,000; split among the original partners.
• B) Goodwill of $15,000; all to C.
• C) Goodwill of $15,000; split among all four partners: P, L, O, and C.
• D) Goodwill of $12,000; all to C.
• E) Goodwill of $12,000; split among original partners.

Identify strategies for successful long-term integration of immigrants and refugees into Canadian society.

Understand the major settlement issues faced by internationally trained immigrants in new countries.

Identify and describe different types of migration, including forced and voluntary migration.

Recognize the challenges associated with credential recognition and employment barriers for immigrants.