If a sole proprietorship is purchased for cash, then?

If a sole proprietorship is purchased for cash, then?
  • A.
    the purchaser debits his business purchase account with the consideration he pays
  • B.
    all assets and liabilities must be bought
  • C.
    goodwill results where value of assets
  • D.
    the vendor debits his business purchase account with the considerstion he receives
Correct Answer: Option A
Explanation
You May Also Like