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Sub: Financial Accounting Sem.II 1) purchase consideration is the amount_ a) payable by new firm to old firm b) payable old firms to partners c) payable by one firm to another firm d) payable by existing firm to old firm

Sub: Financial Accounting Sem.II 1) purchase consideration is the amount_ a) payable by new firm to old firm b) payable old firms to partners c) payable by one firm to another firm d) payable by existing firm to old firm

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Sub: Financial Accounting Sem.III 1) purchase consideration is the amount. a) payable by new firm to old firm b) payable old firms to partners c) payable by one tirm to another firm d) payable by existing firm to old firm 2) Excess of capital over debit side of Realisation Account is a) Book value b) Market value c) cost d) higher cost 3)Liabilitics assumcd by partners are a) Debited to realization Account b) Debited to revaluation Account c) Debited to partners capital Account d) Debited to P&L Account 4) Excess of net assets orer purchase consideration is a) Capital reserve b) Goodwill c) Capital d) drawings
Transcribed Image Text:Sub: Financial Accounting Sem.III 1) purchase consideration is the amount. a) payable by new firm to old firm b) payable old firms to partners c) payable by one tirm to another firm d) payable by existing firm to old firm 2) Excess of capital over debit side of Realisation Account is a) Book value b) Market value c) cost d) higher cost 3)Liabilitics assumcd by partners are a) Debited to realization Account b) Debited to revaluation Account c) Debited to partners capital Account d) Debited to P&L Account 4) Excess of net assets orer purchase consideration is a) Capital reserve b) Goodwill c) Capital d) drawings
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