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  5. Goodwill

12th Class Accountancy Goodwill Question Bank MCQs - Goodwill : Nature And Valuation

  • question_answer
    The net profits for the last 3 years were: 2018-19 Rs.80,000; 2019-20 Rs.1,20,000 and 2020-21 Rs.1,50,000. Included in the profit, there was an abnormal gain of Rs.20,000 and closing stock was overvalued at Rs.10,000 in 2019-20. Adjusted average profit will be:

    A) 1,16,667

    B) 1,06,667 

    C) 1,10,000

    D) 1,13,333

    Correct Answer: C

    Solution :

    1,10,000


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