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Dele and Seun who are in partnership, have decided to covert their business into a ...
Classroom
Accounts - Principles of Accounts Classroom
Jamb
Jamb 1999
Introduction To Company Accounts
Formation And Classification Of Companies
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Dele and Seun who are in partnership, have decided to covert their business into a limited liability company where both become directors. To convert the business?
SchoolNGR Classroom
Take Free Practice Test On 2026 JAMB UTME, Post UTME, WAEC SSCE, GCE, NECO SSCE
A
They will simply continue since there are no new members
B
The partnership is formally ended and new company books opened
C
The shares and all other items will be shared equally and not in their former ratios
D
Computation of goodwill must be done as it is legally required
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Correct Answer:
Option B
Explanation:
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Accounts - Principles of Accounts
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