Ask question Search Order By: ActiveCategoryClear Filter 0 Votes 1 Ans The Formula for valuing goodwill under the Capitalisation of Super Profit Method is: 3.29K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans The average profit of a business over the last five years was ₹ 60,000. The normal yield on capital invested in such a business is estimated at 10% p.a. Capital invested in the business is ₹ 5,00,000. The amount of goodwill, if it is based on 3 year’s purchase of the last 5 years’ super profits will be: 5.98K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans The weighted Average Profit Method of calculating goodwill is useful when 3.15K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Following were the profits of the firm for the last 3 years: 4.99K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Raj & Associates is a partnership firm. Ajay is admitted as a partner. Its Goodwill is to be valued by Average Profit Method. The average profit for the past 5 years is ₹ 1,50,000, and Goodwill is being valued at 3 years’ purchase of average profit, the value of Goodwill of the firm will be: 4.92K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Capital Employed by a partnership firm is ₹ 5,00,000. Its average profit is ₹ 60,000. The normal rate of return is similar type of business is 10%. The amount of super profit is 4.62K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans The term ‘Number of Years’ Purchase means: 2.99K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans The excess amount that a firm gets over and above the market value of assets at the time of sale of its business is: 2.65K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Which of the following statement is correct? 2.13K viewsAnurag Pathak Changed status to publish April 16, 2023Accountancy Class 12thGoodwillMCQs (Goodwill) 0 Votes 1 Ans Assertion (A): Rent to a Partner is transferred to the debit of Profit & Loss Account but is not transferred to the debit of Profit and Loss Appropriation Account. 5.17K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Interest on Loan to partner is charged @ 6% p.a., if Partnership Deed does not provide for charging of interest. 5.00K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Avinash, a partner in the firm gave loan of ₹ 5,00,000 to the firm without an agreement as to rate of interest. Interest on Loan by Avinash is to be allowed @ 6% p.a. 6.40K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Commission provided to partner is shown in Profit and Loss Account. 3.22K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Interest charged on drawings is debited to Profit and Loss Appropriation Account. 3.90K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Drawings against capital is transferred to Partner’s Current Account, if capital is fixed. 4.77K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Partnership is a separate and distinct entity from partners from the viewpoint of accounting. 4.23K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Assertion (A): Bharat, a partner in the firm gave loan of ₹ 5,00,000 of the firm without an agreement as to rate of interest. At the year end, the remaining partners agreed to allow interest on Loan by Bharat @ 8% p.a. 6.66K viewsAnurag Pathak Changed status to publish April 15, 2023[CBSE] Fundamentals of Partnership FirmAccountancy Class 12thAssertion Reason (MCQs) 0 Votes 1 Ans Karan, Nakul, and Asha are partners in a firm and do not have a Partnership Deed. Karan introduced a further capital of ₹ 2,00,000 on 1st October 2022. Whereas Asha took a loan of ₹ 50,000 from the firm on 1st October 2022, Disputes have arisen among them on the following issues: 3.22K viewsAnurag Pathak Changed status to publish April 14, 2023[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Ramesh, Mahesh, and Suresh are partners since 1st April 2022 but do not have a Partnership Deed. 4.26K viewsAnurag Pathak Changed status to publish April 14, 2023[ISC} TS Grewal SolutionsAccountancy Class 12th 0 Votes 1 Ans Reduction in production of junk food : 2.46K viewsAnurag Pathak Changed status to publish April 10, 2023Macro Economics (Class 12th)National Income and related aggregates 0 Votes 1 Ans Production of petrol and diesel driven vehicles : 2.10K viewsAnurag Pathak Changed status to publish April 10, 2023Macro Economics (Class 12th)National Income and related aggregates 0 Votes 1 Ans Real GDP is : 2.13K viewsAnurag Pathak Changed status to publish April 10, 2023Macro Economics (Class 12th)National Income and related aggregates 0 Votes 1 Ans Welfare of the people of a country is determined by: 2.30K viewsAnurag Pathak Changed status to publish April 10, 2023Macro Economics (Class 12th)National Income and related aggregates 0 Votes 1 Ans In National income accounting rent is payment for use of : 2.11K viewsAnurag Pathak Changed status to publish April 10, 2023Macro Economics (Class 12th)National Income and related aggregates 0 Votes 1 Ans Income Method measures national income from: 2.28K viewsAnurag Pathak Changed status to publish April 10, 2023Macro Economics (Class 12th)National Income and related aggregates « Previous 1 2 … 168 169 170 171 172 … 176 177 Next » Question and answer is powered by anspress.net
