At the time of a new partner Goodwill:
A) belongs to all partners, new and old
B) belongs only to the new partners who is going to be admitted
C) belongs only to the old partner who have credited it
D) none of the above.
Correct Answer:
Verified
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
Q12: A new partner may be admitted to
Q14: In the revaluation account a decrease in
Q15: In the revaluation account an increase in
Q16: The partnership may come to an end
Q17: In case of retirement of a partner
Q18: Revaluation account is operated to find out
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