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which one of the following alternatives is incorrect? Which one of the following alternatives is incorrect? a. The selling price of the partnership business is

which one of the following alternatives is incorrect?

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Which one of the following alternatives is incorrect? a. The selling price of the partnership business is determined by the value of its assets. b. When recording the valuation adjustments, if the value of a liability is decreased, the valuation account credited with the amount of a decrease. c. An existing goodwill account balance is transferred to the partners' capital accounts on admission of a new partner. d. The change in the ownership structure of the partnership is effectively the same as the dissolution. e. To ensure that compliance is followed, the financial statements of partnerships must be prepared according to IFRS

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