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Question Practice

Which of the following is TRUE about goodwill in a partnership?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Reconstitution of a Partnershi...
Question Bank

Which of the following is TRUE...

Single Answer MCQ
Q-00082191

Which of the following is TRUE about goodwill in a partnership?

1

Goodwill is always fixed in value.

2

Goodwill is an intangible asset that can be revalued.

3

Goodwill is never considered during reconstitution.

4

Goodwill values decrease annually.

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When can a new partner be admitted into a partnership firm?

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What rights does a newly admitted partner acquire in a partnership firm?

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