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Home Q & A Board Other Fields Homework Help Business Accounting
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majestico majestico
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6 years ago
When two proprietors decide to combine their businesses and form a partnership, GAAP usually requires that noncash assets be taken over at their:
A) book value on the date of the partnership.
B) fair market value on the date of the partnership.
C) residual value on the date of the partnership.
D) historical cost on the date of the partnership.
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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OmpaOmpa
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6 years ago
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