Multiple Choice
When does need valuation of Goodwill
A) On retirement or Death of a partner
B) Admission of Partner
C) None of the Above
D) Both
Correct Answer:

Verified
Correct Answer:
Verified
Q6: From the profits of previous three years,
Q7: The monetary value of reputation of business
Q8: A firm earns ?1,00,000. The normal rate
Q9: Goodwill is an intangible Assets<br>A)True<br>B)False<br>C)none<br>D)all
Q10: Goodwill be purchased<br>A)True<br>B)False<br>C)none<br>D)all
Q12: Which methods of valuation of Goodwill<br>A)Super profits<br>B)Average
Q13: Mining Royalty is based on<br>A)Production<br>B)Sales<br>C)Purchase<br>D)Both A and
Q14: The excess of Average profit over normal
Q15: Goodwill will have no effect on business
Q16: Goodwill is defined as<br>A)Intangible asset<br>B)Fictitious asset<br>C)Current asset<br>D)Current