In setting the accounts of a firm during dissolution:
A. The goodwill must not be included in the assets.
B. The goodwill should be distributed among all the partners.
C. The goodwill must be included in the assets.
D. The goodwill should be separated before settlement.
Answer:C
In setting the accounts of a firm during dissolution:
A. The goodwill must not be included in the assets. B. The goodwill should be distributed among all the partners. C. The goodwill must be included in the assets. D. The goodwill should be separated before settlement.