Question 0

If a sole proprietorship is purchased for cash, then?

  • A.the purchaser debits his business purchase account with the consideration he pays
  • B.all assets and liabilities must be bought
  • C.goodwill results where value of assets
  • D.the vendor debits his business purchase account with the considerstion he receives
  • E.
Objective

Question details

Exam body
JAMB
Subject
Accounts - Principles of Accounts
Year
1999
Question no.
#0
Type
Objective

More from this paper

See all Accounts - Principles of Accounts 1999 questions