The coming together of two sole trading businesses to form a partnership is

Accounts - Principles of Accounts

JAMB 2024

A. combination
B. acquisition
C. amalgamation
D. association

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Correct Answer: Option C

Explanation

Amalgamation specifically describes the merging of two or more businesses into a single entity. In this case, the two sole trading businesses would combine their assets, liabilities, and operations to form a new partnership.

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The coming together of two sole trading businesses to form a partnership is

Correct Answer: Option C

Explanation

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