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RP
Question Practice

In a situation where goodwill needs to be valued at thrice the average profits over the past four years, how would you calculate the goodwill?

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

In a situation where goodwill ...

Single Answer MCQ
Q-00082227

In a situation where goodwill needs to be valued at thrice the average profits over the past four years, how would you calculate the goodwill?

1

Multiply total profits by 3

2

Average the profits and multiply by 3

3

Take the minimum profit and multiply by 3

4

Add profits and divide by 3

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Q1.

What are the different ways in which a partner can retire from a firm?

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Q2.

Explain the treatment of goodwill at the time of retirement or on the event of death of a partner.

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Q3.

How will you compute the amount payable to a deceased partner?

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Q4.

Discuss the various methods of computing the share in profits in the event of death of a partner.

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