CUET Accountancy - ________ is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits. | PYQs + Solutions

CUET Accountancy 2025 27 May Shift 2

Partnership

Easy

common

Goodwill

Patent

Capital

✅ Correct Option: 1

Related questions:

13 May Shift 2

Which of the following factors leads to a higher goodwill for firms?

(A) Firms having long term contracts for supply of materials

(B) Firms with efficient management

(D) Firms which do not have competitive advantages

Choose the correct answer from the options given below:

24 May Shift 1

Arjun and Vaibhav are partners sharing profits in the ratio of 3:2. They admitted Rahul as a new partner for 1/5 share in the future profits of the firm. The new partner acquired his share from the old partners in the old ratio. Calculate the new profit sharing ratio of Arjun, Vaibhav and Rahul.

30 May Shift 1

The profits for the five years of a firm are as follows – year 2013 Rs. 4,00,000;year 2014 Rs. 3,98,000; year 2015 Rs. 4,50,000; year 2016 Rs. 4,45,000 and year 2017 Rs. 5,00,000. Calculate the goodwill of the firm on the basis of a 4-year purchase of 5 years average profits:

CUET Accountancy 2025 27 May Shift 2 PYQs

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