3/9/22, 8:17 PM Quiz: 3.3.2.4.

True or False

3.3.2.4. True or False

Started:
Mar 9 at 8:11pm

Quiz Instructions

Question 1 1 pts

A new partner may be admitted into the partnership with the consent of the majority
of the old partners

True

False

Question 2 1 pts

The total assets of the partnership will increase upon admission of a new partner by
purchase of interest

True

False

Question 3 1 pts

When a new partner is admitted, the partnership may continue operations based on a
new contract among the partners.

True

False

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3/9/22, 8:17 PM Quiz: 3.3.2.4. True or False

Question 4 1 pts

Goodwill and bonus are one and the same thing.

True

False

Question 5 1 pts

Admission of a new partner by investment will change total assets and total capital

True

False

Question 6 1 pts

A new partner may be admitted without an investment and without the recognition of
capital interest

True

False

Question 7 1 pts

The admission of a new partner in an existing partnership dissolves the old

partnership.

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3/9/22, 8:17 PM Quiz: 3.3.2.4. True or False

True

False

Question 8 1 pts

If the capital credit of the new partner is less than his investment, the difference is
always recorded as goodwill.

True

False

Question 9 1 pts

If agreed capital exceeds total contributed capital, the difference is unrecorded

goodwill or asset revaluation

True

False

Question 10 1 pts

Bonus to a new partner is given by the old partners

True

False

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3/9/22, 8:17 PM Quiz: 3.3.2.4. True or False

Question 11 1 pts

A partnership dissolution will always lead to a partnership liquidation

True

False

Question 12 1 pts

The agreed capital can never be less than the total  contributed capital

True

False

Question 13 1 pts

When a new partner enters an existing partnership by purchasing a partner's interest,

the cash paid to the selling partner for the partnership interest is always equal to the
new partner's capital balance

True

False

Question 14 1 pts

A bonus given to the old partners by a new partner increases the capital account
balances of the old partners.
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3/9/22, 8:17 PM Quiz: 3.3.2.4. True or False

True

False

Question 15 1 pts

Admission of a new partner  by purchase of interest is a personal transaction

between the selling partner and the buying partner.  Hence, any indicated gain in the
transaction is not recognized in the partnership books

True

False

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