Post Utme Ims U 2021 Accounting Question 1

Practice objective / multiple choice question 1 from the 2021 Post Utme Ims U Accounting examination.

Post Utme Ims U 2021 Accounting Objective / Multiple Choice

Question 1 POST_UTME_IMS_U • 2021 • ACCOUNTING • objective

In a partnership account, what is the correct method of valuing the goodwill of a partnership when a new partner joins?

Answer Options

Correct Answer A. Average of the book value and the market value

B. Market value

C. Book value

D. Cost of the new partner's investment

Correct Answer

Correct Option:

Average of the book value and the market value

About This Question

This is Post Utme Ims U 2021 Accounting Question 1. It is one of the objective questions from the 2021 Post Utme Ims U Accounting examination.

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