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Describes the effect on net assets and total capital

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Reference no: EM132744887

Problem 1: Under the bonus method, which of the following best describes the effect on "Net Assets" and "Total Capital" of an admission of a new partner when he invests an amount larger than his capital credit?

a. No effect, increase

b. Increase, increase

c. Decrease, decrease

d. No effect, no effect

Problem 2: When a partner withdraws taking assets that are less than his capital balance,

a. the remaining partners receive a bonus

b. no bonus results.

c. the remaining partners owe the withdrawing partner the difference.

d. the withdrawing partner receives a bonus

Reference no: EM132744887

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