Which one of the following alternatives is incorrect? A. A transferral account is used to close off the accounting records of the existing partnership. B. Goodwill is subsequently measured at cost less impairment. C. When recording the valuation adjustments, if the value of an asset decreases, the valuation account is debited with the amount of a decrease. D. The change in the ownership structure of the partnership is effectively the same as the liquidation. E. Revaluation enables the value of assets and liabilities to be adjusted to reflect their fair value instead of their cost or carrying amounts