A schedule of safe payments is prepared under the assumption that ________.
a. partners who have deficit capital balances will only be able to partially settle their deficits.
b. any remaining non-cash assets are worthless.
c. Both of these assumptions are correct. => incorrect
d. None of these assumptions is correct.
2. When the newly admitted partner contributes goodwill, the value of that goodwill will be estimated based on the fair value of the ________ partnership and the percentage of the original partners’ interest in the ________ partnership’s capital.
a. original, original
b. original, new
c. new, original. => incorrect
d. new, new