Question: Under the goodwill method for recognizing a partner's intangible contribution Multiple select question. no asset is recorded; only partners' capital accounts are affected. goodwill is

Under the goodwill method for recognizing a partner's intangible contribution Multiple select question. no asset is recorded; only partners' capital accounts are affected. goodwill is recognized as an asset of the partnership to reflect the intangible contribution. the partner deemed to be contributing goodwill is given a capital credit to recognize the asset brought to the partnership. the partner contributing the intangible property provides a bonus to the other partners

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