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  3. 12th Class
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  5. Fundamentals of Partnership

12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    Average profit basis, goodwill is calculated by:

    A) no. of years purchased multiplied with average profits

    B) no. of years purchased multiplied with super profits

    C) summation of the discounted value of expected future benefits

    D) super profit divided with expected rate of return

    Correct Answer: A

    Solution :

    [a] no. of years purchased multiplied with average profits


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