ExamTopics Logo
Mail Us[email protected]
Menu
Iia Discussions
exam questions

Exam IIA-CIA-Part3 All Questions

View all questions & answers for the IIA-CIA-Part3 exam
Go to Exam

Exam IIA-CIA-Part3 topic 2 question 97 discussion

Actual exam question from IIA's IIA-CIA-Part3
Question #: 97
Topic #: 2
[All IIA-CIA-Part3 Questions]

Which of the following is the most appropriate way to record each partner's initial investment in a partnership?

  • A. At the value agreed upon by the partners.
  • B. At book value.
  • C. At fair value.
  • D. At the original cost.
Show Suggested Answer Hide Answer
Suggested Answer: A 🗳️
Reference:
https://www.slideshare.net/ArthikDavianti/accounting-for-partnership-46681465
by Mike12345678 at April 8, 2021, 7:13 p.m.

Comments

Chosen Answer:
This is a voting comment (?). It is better to Upvote an existing comment if you don't have anything to add.
Switch to a voting comment New
Submit Cancel
Evveee
4 months, 3 weeks ago
A is correct. Partner's initial investment in a partnership is recorded at 1. Value agreed upon by partners or 2. FV of assets (if 1 is not given).
upvoted 1 times
...
Mike12345678
10 months, 4 weeks ago
C is correct
upvoted 1 times
superman26
6 months, 4 weeks ago
why the answer is C?
upvoted 1 times
...
...
Community vote distribution
A (35%)
C (25%)
B (20%)
Other
Most Voted
A voting comment increases the vote count for the chosen answer by one.

Upvoting a comment with a selected answer will also increase the vote count towards that answer by one. So if you see a comment that you already agree with, you can upvote it instead of posting a new comment.

SaveCancel
exam
Someone Bought Contributor Access for:
SY0-701
London, 1 minute ago