Multiple Choice
The excess of Average profit over normal profit is called
A) Super profit
B) Normal profit
C) Fixed profit
D) Abnormal profit
Correct Answer:

Verified
Correct Answer:
Verified
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
Q11: When does need valuation of Goodwill<br>A)On retirement
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
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
Q17: If Average Profit of a certain firm
Q18: The profits of the last three years
Q19: Which methods of valuation of Goodwill<br>A)Super Profit<br>B)Capitalization<br>C)Average