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Q. A firm earns ₹1,00,000. The normal rate of return is 10%. The assets of the company amounted to ₹11,00,000 and liabilities to ₹1,00,000. Value of goodwill by the capitalization of average actual profit will be Sol:

Q. If Average Profit of a certain firm for last five years is Rs5,00,000 , Normal profit is Rs 3,50,000/-. What would be the Value of Goodwill at 3years purchase of super profit

Q. The portion of the acquisition cost of the asset yet to be allocated is known as

Q. The Principal amount of debentures will be repaid by the company either at the end of a specified period or by instalments during the life time of the company. Such types of debentures are called :

Q. Income and Expenditure Account records transactions of: Sol:

Q. Which of the following concepts assumes that a business will last indefinitely?

Q. Buy Back must be completed within_______________

Q. Goodwill is nothing more than probability that the old customer will resort to the old place. This definition of goodwill was given by:

Q. Cash Account is a –

Q. Loss of cash by theft committed by cashier after business hours is a