JAMB Accounting 2011 Objective — Question 42

Question 42 of 49 from the Joint Admissions and Matriculation Board (JAMB) Accounting 2011 Objective paper, with the correct answer and a full explanation.

Goodwill is determined using

A. A. capital contribution of old partners
B. B. number of partners admitted
C. C. the business and customer relationsCorrect
D. D. number of active partners

Explanation

Goodwill is determined using the business and customer relations built up by the firm.

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