When the hybrid method is used to record the withdrawal of a partner. the partnership

When the hybrid method is used to record the withdrawal of a partner, the partnership Multiple Choice revalues assets and lia

Answer

Answer: Option (e) revalued assets and liabilities but does not record goodwill. NOTE : A partnership can be defined as a kind of business ownership in which two or more people join together to start a company and split the earnings. When a partnership uses the hybrid approach to record a partner’s withdrawal, the partnership revalues assets and liabilities but does not record goodwill FEEL FREE TO ASK ANY QUERY

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