The excess of value of assets over the purchase considera...
The excess of value of assets over the purchase consideration on acquisition of a business is to
Share capital account
Goodwill account
Capital reserved account
General reverse account
Correct answer is B
In accounting, goodwill is the value of the business that exceeds its assets minus the liabilities.
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Opening capital ---10,800 Drawings----------- 2,500 Trade creditors ----2,560 Trade debtors -----...