If a sole proprietorship is purchased for cash, then?
QuestionIf a sole proprietorship is purchased for cash, then?
the purchaser debits his business purchase account with the consideration he pays
all assets and liabilities must be bought
goodwill results where value of assets
the vendor debits his business purchase account with the considerstion he receives
The correct answer is A.
More Past Questions:
- English Language
- Christian Religious Knowledge
- Literature In English
- Agricultural Science
- General Paper
- Islamic Religious Knowledge
- Further Mathematics
- Current Affairs
- Civic Education
- Computer Studies
- Home Economics
- Sweet Sixteen
- Fine Arts