CUET Accountancy - 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……. . | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Partnership

Easy

common

Rs.60,000.

Rs.20,000.

Rs.40,000.

Rs.50,000.

✅ Correct Option: 1

Related questions:

15 May Shift 2

A and B are partners, they admit C into partnership. C was asked to pay Rs 2,50,000 though his share of capital was estimated Rs 2,00,000 only. for what Rs 50,000 extra was asked from C?

3 June Shift 2

Ranjan and Anjan were Partners in a firm sharing profits and losses in 3:2. they admitted Sanjan for 1/4 share of profit on 1 Jan 2024.

Goodwill of the firm will be valued at 3 years purchase of average profit of last 4 years which were

2024: Rs. 80,000

2023: Rs. 1,40,000.

2022: Rs. 2,00,000

2021: Rs. 1,60,000

The goodwill of the reconstituted firm will be

22 May Shift 2

As per AS-26 Intangible assets like goodwill should be written off.

CUET Accountancy 2025 22 May Shift 2 PYQs

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