Describe the circumstances where neither the goodwill nor the bonus method should be used to record the

Question:

Describe the circumstances where neither the nor the bonus method should be used to record the admission of a new partner.

Goodwill
Goodwill is an important concept and terminology in accounting which means good reputation. The word goodwill is used at various places in accounting but it is recognized only at the time of a business combination. There are generally two types of...