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At the date of partnership formation, the account credited to a partner's capital is less than the fair value of the property contributed. Which of
At the date of partnership formation, the account credited to a partner's capital is less than the fair value of the property contributed. Which of the following is the most valid reason?
A) The property contributed by the partner is impaired.
B) The property contributed by the partner has been subjected to positive asset
C) Bonus has been given by the partner to the other partners
D) Goodwill arising from partnership formation has been recognized revaluation.
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