CUET Accountancy - As per AS-26 Intangible assets like goodwill should be written off. | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Partnership

Medium

common

As early as possible.

As early as possible but not exceeding its estimated life.

As early as possible but not exceeding its estimated life, which normally should not be beyond 10 years

Within the useful life of asset, irrespective of number of years.

✅ Correct Option: 3

Related questions:

4 June Shift 2

Hem and Nem are partners in a firm sharing profits in the ratio of 3:2. Their capitals were Rs. 80,000 and Rs. 50,000 respectively. They admitted Sam on Jan. 1, 2025 as a new partner for 1/5 share in the future profits. Sam brought Rs. 60,000 as his capital. Sam share of goodwill will be:

14 May Shift 2

The profit 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. The goodwill of the firm on the basis of 4 years purchase of 5 years average profits is-

27 May Shift 2

What are the main factors affecting the value of goodwill?

(A) Nature of business

(B) Location

(D) Market situation

Choose the correct answer from the options given below:

CUET Accountancy 2025 22 May Shift 2 PYQs

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