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The amount for which a business is sold is that

Accounts - Principles of Accounts
WAEC 2010

The amount for which a business is sold is that

  • A. goodwill
  • B. cosiderated fund
  • C. purchase
  • D. considerations
  • E. capital reserve
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Correct Answer: Option D
Explanation

Consideration is a payment made by one party to another in exchange for the transfer of something of value. It must be of value to both parties entering into a transaction.

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