___________ is the value of the reputation of a firm in respect of profits expected in future over and above the normal rate of profits.
Goodwill
Revaluation
Profit
Capital
Under ___________ method, the new partner does not bring in his share of goodwill in cash, a goodwill account is raised in the firm's book.
Premium
Realisation
Memorandum revaluation
There are ____________ main methods of treatment of goodwill.
Two
Three
Four
Five
Revaluation account is__________.
Nominal A/c
Real A/c
Personal A/c
None of the above
A ___________ is a nominal account.
Balance sheet
Receipts and Payments account
Revaluation account
None of these
Super profit is equal to
Average profit - Normal profit
Reasonable profit - Average profit
Average profit itself
The amount of premium brought in by the new partner is shared amongst the old partners in their ____________.
Gaining ratio
Sacrificing ratio
Old ratio
New ratio
Contribution of the goodwill by the new partner can be shared by the old partners.
Capital ratio
Revaluation account is a ___________ account.
Real
Nominal
Personal
Unrecorded liability is available
From the balance sheet
From the profit and loss a/c
From the past records
