When a New Partner Is Admitted to a Partnership, There

question 179

Multiple Choice

When a new partner is admitted to a partnership, there should be a (n)

• A) increase in the total assets of the partnership
• B) new capital account added to the ledger for the new partner
• C) increase in the total owners' equity of the partnership
• D) debit amount to the partner's capital account for the cash received by the current partner

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Definitions:

Mass Customization

A production and marketing technique that combines the flexibility and personalization of custom-made products with the low unit costs of mass production.