There are ____________ main methods of treatment of goodwill.
Two
Three
Four
Five
Revaluation account is a ___________ account.
Real
Nominal
Personal
None of these
Super profit is equal to ______
Average profit - Normal profit
Reasonable profit - Average profit
Average profit itself
None of the above
Capitalisation method is the method for __________
Valuing assets
Valuing capital
Valuation of goodwill
Share of goodwill brought in cash by the new partner is called ____________.
Capital
Profit
Premium
Loss
____________ account is credited with increase in the value of assets.
Revaluation
Profit and Loss
Trading
Under _____________ method the new partner brings in his share of goodwill in cash.
Memorandum revaluation
Fixed
On decreasing the amount of provision for doubtful debts,the __________ account is credited.
Balance sheet
Under revaluation method goodwill is raised by__________.
All partners
New partners
Old partners
The right of new partner is_______________
To control the management
To share the assets and profit of the firm
To be as an employee
