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.

• A)I only
• B)II only
• C)Either I or II
• D)Neither I nor II

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Definitions:

Dot Operator

In programming, the dot operator is used to access the properties or methods of an object.

Printf Method

A method in Java's PrintStream class that allows formatted strings to be output to the console, similar to the printf function in C.

Integers

Whole numbers that can be positive, negative, or zero, but not fractions or decimals.

Decimal Numbers

Numbers expressed in the base-10 numeral system, including integers, fractions, and real numbers notated with a decimal point.