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1) Present the arguments for and against the bonus method of admission of recognizing the...

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Accounting

1) Present the arguments for and against the bonus method of admission of recognizing the admission of a new partner.

2) Assume that because of a new law recently passed, the types of significant transactions in which the partnership engages are no longer lawful. Two of the five partners wish to wind up and terminate the partnership. Can these two partners require the partnership to terminate? Explain in detail.

3) A, B, and C are partners. The partnership is liquidating, and Partner C is personally insolvent. What implications may this have for Partners A and B?

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