When goodwill is not retained in the business, the entries in the new partners' book...

Accounts - Principles of Accounts

JAMB 2006

When goodwill is not retained in the business, the entries in the new partners' book will be to debit?

A. good account and credit partners' capital account
B. partners' capital account and credit goodwill account
C. cash account and credit goodwill account
D. goodwill account and credit cash account

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Correct Answer: Option B

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When goodwill is not retained in the business, the entries in the new partners' book...

Correct Answer: Option B

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