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When a new partner is admitted into a partnership and the old partners' goodwill is recognized, the goodwill is allocated to: 1. all the partners

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When a new partner is admitted into a partnership and the old partners' goodwill is recognized, the goodwill is allocated to: 1. all the partners in their profit-and-loss-sharing ratio. II. the old partners in their profit and loss sharing ratio. Multiple Choice Il only Either 1 or 11 I only Neither I nor ||

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