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Category Assertion Reason (Goodwill)

Assertion Reason (Goodwill) 3 Questions

0 Votes 1 Ans

Assertion (A): Goodwill is the value of the reputation of a firm in respect of the profits expected in the future over and above the super profits.

3.17K viewsAnurag Pathak Changed status to publish April 19, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Assertion Reason (Goodwill)Goodwill

0 Votes 1 Ans

Assertion (A): Goodwill is valued at the time of the firm’s reconstitution because gaining partners have to compensate the sacrificing partners for gaining profit share.

1.87K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Assertion Reason (Goodwill)Goodwill

0 Votes 1 Ans

Assertion (A): Self-generated Goodwill is recognised in the books of account on reconstitution of a firm because the amount is exchanged between the gaining partner or partners and sacrificing partner or partners.

2.37K viewsAnurag Pathak Changed status to publish April 18, 2023[CBSE] TS Grewal Solutions Accountancy Class 12th Assertion Reason (Goodwill)Goodwill

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