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- 1. Fill in the Blank
Any change in the relationship of existing partners which results in an end of the existing agreement and enforces making of new· agreement is called:
- 2. Fill in the Blank
The ratio in which a partner surrenders his share in favour of a partner is known as:
- 3. Fill in the Blank
Reserves and accumulated profits are transferred to partners ' capital accounts at the time of reconstitution in......... ratio.
- 4. Fill in the Blank
……..should compensate …………..in the case of reconstitution of the firm.
- 5. Fill in the Blank
Goodwill of the firm on the basis of 2 years' purchase of average profit of the last 3 years is Rs. 25,000. Find average profit.
- 6. Fill in the Blank
he net assets of the firm including fictitious assets of 5,000 are 85,000.The net liabilities of the firm are 30,000.The normal rate of return is 10% and the average profits of the firm are 8,000.Calculate the goodwill as per capitalization of super profits.
- 7. Fill in the Blank
Under which method of valuation of goodwill, normal rate of return is not considered?
- 8. Fill in the Blank
When the value of goodwill of the firm is not given but has to be inferred on the basis of the net worth of the firm ,it is called……………..
- 9. Fill in the Blank
If Super profit of a firm is 10,000,its value of goodwill will be ………….if rate of return is 8%
- 10. Fill in the Blank
Goodwill is not valued during ………….
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