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Goodwill appears in the books of a business only if it has been

Goodwill appears in the books of a business only if it has been
  • A.
    purchased at a certain price
  • B.
    raised in connection with the admission of a new partner
  • C.
    raised to account for the true value of a business on the death of a partner
  • D.
    raised in order to prevent the balance sheet showing that the business is insolvent
Correct Answer: Option B
Explanation