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12th Standard English Medium Accountancy Subject Goodwill In Partnership Accounts Creative 1 Mark Questions with Solution Part - II

12th Standard

    Reg.No. :
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Accountancy

Time : 00:30:00 Hrs
Total Marks : 5
    5 x 1 = 5
  1. ________ method, goodwill is the excess of capitalised value of average profit of the business over the actual capital employed in the business.

    (a)

    Capitalisation

    (b)

    Super profit

    (c)

    Weighted average profit

    (d)

    Annuity

  2. Goodwill is _________.

    (a)

    an intangible asset

    (b)

    a fixed asset

    (c)

    realisable

    (d)

    all of the above

  3. Capital employed at the end the year is Rs. 74,20,000 profit earned Rs. 20,000. Average capital employed is__________.

    (a)

    Rs. 4,20,000

    (b)

    Rs. 4,60,000

    (c)

    Rs. 4,40,000

    (d)

    Rs. 4,00,000

  4. Goodwill has _________Value

    (a)

    realisable

    (b)

    fictitious

    (c)

    both

    (d)

    none of these

  5. Net asset value method is based on the assumption that the company is__________.

    (a)

    a going concern

    (b)

    going to be liquidated

    (c)

    both 'a' and 'b'

    (d)

    none of the above

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