At the time of admission an incoming partner contributes as goodwill:
A) in cash
B) does not pay cash
C) may or may not pay cash for goodwill
D) none of these.
Correct Answer:
Verified
Q1: Drawings of the partners are:
A)debited to profit
Q2: A partners has to pay interest on
Q3: Salary paid to partner should be:
A)debited to
Q4: Interest on capital Account:
A)debited to profit &
Q5: At the time of admission of a
Q7: Goodwill is valued as two years purchase
Q8: Value of goodwill agreed upon Rs. 30000
Q9: Goodwill of the firm is valued Rs.
Q10: An incoming partner pays his share of
Q11: At the time of admission of a
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