apter 5 Accounting for Partnership Dissolution 253 OFESSOR Date: 5-7 Multiple Choice Theory) oblem ction: Encircle the letter that corresponds to the best answer rtnership without a definite dissolved at any time by any of the partners is o a. Partnership Dissolution. b. Partnership at Wili. c. Particular Partnershi d. Definite Partnership period of existence and which can be p. Bonus to the managing partner will be given in the following instances except when there is: a. partnership profit. b. partnership increase in yield. c. partnership loss. d. Any of the above A partnership may be dissolved without violating partnership agreement in the following instances, except: a. termination of the term or particular undertaking. b. express will of any partner who acted in good faith. c. express will of all the d. by expulsion of any partner partners Dissolution of a partnership by means of admission of a new partner is not effected through the a. book value method b. bonus method. c. goodwill methood d. purchase of interest method When Dj retired from the Partnership Dj, Zig and Jowa, the final settlement of Dj's partnership interest exceeded his capital balance. Under the bonus method, the excess a. reduced the capital balance of Zig and Jowa. b. had no effect to the capital balance of Zig and Jowa. c, was recorded as debit to bonus. d. was recorded as expense