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Kowope Nigeria Limited paid purchase consideration of N900,000 for an existing partnership which has assets and liabilities valued as follows: Leasehold building – N500,000; Motor vehicles – N150,000; Furniture – N240,000; Inventory of stationery – N50,000 and Trade payables – N200,000. It means:
A. The company gained N160,000 as capital reserve
B. The company anticipates profit of N160,000
C. The partnership assets and liabilities are inflated by N160,000
D. The partnership is undervalued by N160,000
E. The company is paying N160,000 as goodwill
Find Related Questions by Tags, levels, etc.
Find Related Questions by Tags, levels, etc.
Kowope Nigeria Limited paid purchase consideration of N900,000 for an existing partnership which has assets and liabilities valued as follows: Leasehold building – N500,000; Motor vehicles – N150,000; Furniture – N240,000; Inventory of stationery – N50,000 and Trade payables – N200,000. It means:
A. The company gained N160,000 as capital reserve
B. The company anticipates profit of N160,000
C. The partnership assets and liabilities are inflated by N160,000
D. The partnership is undervalued by N160,000
E. The company is paying N160,000 as goodwill
Find Related Questions by Tags, levels, etc.
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