Arrange the following steps which involve the Super Profits Method of valuation of goodwill in the correct sequence:

(A) Calculate the average profit.

(B) Calculate the normal profit on the firm's capital on the basis of the normal rate of return.

(C) Calculate goodwill by multiplying the super profits by the given number of years' purchase

(D) Calculate the super profits by deducting normal profit from the average profits.

Choose the correct answer from the options given below:

The past average profits of a business works out at Rs. 20,000 and it is expected that such profits are likely to continue for another three years, the value of goodwill based on average profit method will be……. .

Interest on capital will be shown on the Dr. side of Profit and Loss Appropriation A/c and ________ side of Partner's ________ A/c.

In case of admission of a partner, any accumulated losses appearing in the form of a debit balance of profit and loss account and/or deferred revenue expenditure appearing in the balance sheet of the firm, should be transferred to __________.

At the time of admission of a partner, undistributed profits appearing in the balance sheet of the old firm is transferred to the capital account of:

On the admission of a new partner increase in the value of assets is debited to:

"Goodwill is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits." Which of the following statements are incorrect in the context of goodwill?

A. It is tangible asset.

B. Goodwill exists only when the firm earns super profits.

C. It is intangible asset.

D. Goodwill tends to be low if the business is centrally located or is at a place having heavy customer traffic,

Choose the correct answer from the options given below: