The amount paid by a new partner on admission as a compensation for the reputation built up by old partners is a
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Correct Answer: Option D
Explanation:
Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable.
Goodwill in accounting is an intangible asset that arises when a buyer acquires an existing business. Goodwill represents assets that are not separately identifiable.