Multiple Choice (10 Items): Partnership Dissolution
Hello, need help answering the attached exercise to review for my coming exam. Please provide explanations.
wercise NV - 3 .. Multiple Choice : Choose the best answer among the given choices .` Which of the following results in . dissolution of a partnership ? a .' contribution of additional assets to the partnership by an existing partner 6. partnership borrowed cash from the managing partner c . winding up of the partnership and the distribution of remaining assets to the partners*.` d . withdrawal of a partner from a partnership 2 . The admission of a new partner under the bonus method will result in a bonus to a . the old partners only . b . the new partner only . " C . either the new partner or the old partners , but not both . d . none of the above . 3 . If a bonus is traceable to the previous partners rather than an Incoming partner , it is allocated among the partners according to the 2 . profit- sharing percentages of the previous partnership .6. profit- sharing percentages of the new partnershin C. capital percentages of the previous partners . d. capital percentages of the new partnership . 4 . If an existing partner withdraws from a partnership , a . his or her interest may be sold to the partnership or an individual partner . 6. may result bonus to exiting partner . C. may result bonus to remaining partners . d . all of the above . Use the following statement for Question Nos . 5 to 9 A The amount of assets contributed by the new partner into the partnership B \\ The amount of capital credited to the new partner C Total capital of the partnership before the admission of a new partner D Total capital of the partnership after the admission of a new partner 5 . Which statement below is correct if a new partner receives a bonus upon contributing assets into the partnership ?" 2 . B A and D = C + A C. A = Band A = D + C d . B > A and C = D + A 6 :" Which statement below is correct if the old partners receive a bonus upon the contribution of assets into In* partnership by a new partner ? a . B C + A c . B A and D = C + A Which statement below is correct if undervalued asset Of the old partners is recognized upon the contribution of assets into the partnership by a new partner ?` 2 . D C + A C . D = C + A d . D C + A C . D = C + A d . D