| 41 |
Goodwill is classified as |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Easy |
| 42 |
Profits of the last three years were ₹40,000, ₹50,000 and ₹60,000. What is goodwill at two years' purchase of… |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Easy |
| 43 |
Which factor would normally increase the goodwill of a business? |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Medium |
| 44 |
Average profit is ₹60,000, capital employed ₹4,00,000 and normal rate of return 10%. What is goodwill at thre… |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Medium |
| 45 |
Super profit is ₹20,000 and the normal rate of return is 10%. What is goodwill by the capitalisation of super… |
Accountancy/Book Keeping
Goodwill: nature and valuation |
Hard |
| 46 |
The premium for goodwill brought in by a new partner is shared by the old partners in their |
Accountancy/Book Keeping
Admission of a partner |
Easy |
| 47 |
Goodwill already appearing in the books at the time of admission is written off among |
Accountancy/Book Keeping
Admission of a partner |
Easy |
| 48 |
A and B share profits 3:2. C is admitted for a 1/5 share, which he takes from A and B in their old ratio. Wha… |
Accountancy/Book Keeping
Admission of a partner |
Medium |
| 49 |
A and B share 3:2. C joins for a 1/5 share, taken in the old ratio, and brings his share of goodwill in cash.… |
Accountancy/Book Keeping
Admission of a partner |
Medium |
| 50 |
C brings ₹60,000 as capital for a 1/4 share. The combined capitals of A and B after all adjustments are ₹1,50… |
Accountancy/Book Keeping
Admission of a partner |
Hard |
| 51 |
On retirement, the retiring partner's share of goodwill is debited to the continuing partners in their |
Accountancy/Book Keeping
Retirement of a partner |
Easy |
| 52 |
The amount due to a retiring partner that is not paid immediately is transferred to |
Accountancy/Book Keeping
Retirement of a partner |
Easy |
| 53 |
A, B and C share 3:2:1. C retires and A and B continue without any stated new ratio. In what ratio do A and B… |
Accountancy/Book Keeping
Retirement of a partner |
Medium |
| 54 |
A, B and C share 3:2:1. C retires; the firm's goodwill is ₹60,000. A and B continue in their old ratio. By ho… |
Accountancy/Book Keeping
Retirement of a partner |
Medium |
| 55 |
A, B and C share 3:2:1. C retires and A and B decide to share future profits equally. What is the gaining rat… |
Accountancy/Book Keeping
Retirement of a partner |
Hard |
| 56 |
The balance in a deceased partner's capital account is transferred to |
Accountancy/Book Keeping
Death of a partner |
Easy |
| 57 |
Profit and Loss Suspense Account is opened on the death of a partner to record |
Accountancy/Book Keeping
Death of a partner |
Easy |
| 58 |
The accounting year begins on 1 April. A partner with a 1/3 share dies on 30 June. Last year's profit was ₹60… |
Accountancy/Book Keeping
Death of a partner |
Medium |
| 59 |
Which item is NOT included in the amount payable to a deceased partner's executors? |
Accountancy/Book Keeping
Death of a partner |
Medium |
| 60 |
Last year's sales were ₹4,00,000 and profit ₹80,000. Sales from the start of this year to the date of a partn… |
Accountancy/Book Keeping
Death of a partner |
Hard |