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Question

While adjusting for goodwill, ___________ partners' capital account is debited and ___________ partners' capital account is credited.


A

sacrificing, gaining

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B

gaining, sacrificing

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C

old, new

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D

old, remaining

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Solution

The correct option is B

gaining, sacrificing


While adjusting for goodwill, gaining partners' capital account is debited and sacrificing partners' capital account is credited.


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