Question on: JAMB Accounting - 1999
Dele and Seun who are in partnership, have decided to covert their business into a limited liability company where both become directors. To convert the business?
A
they will simply continue since there are no new members
B
the partnership is formally ended and new company books opened
C
the shares and all other items will be shared equally and not in their former ratios
D
computation of goodwill must be done as it is legally required
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Correct Option: B
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