Goodwill can be created in the books of a partnership fir...
Goodwill can be created in the books of a partnership firm when
The partnership experiences super profit
A new member is admitted
The business is being expanded
The business suffers high loss
Correct answer is A
The partnership experiences super profit: super profit is the profit that is generated by intangible asset or the profit that is attributed by the tangible asset when such profit is capitalized we get intangible asset or goodwill
Which of the following is not an advantage of control account? ...
The effect of transaction when cash is paid into the bank is ...
Which of the following accounts has credit balance? ...
When discount is allowed, the accounting entry is debit Discount allowed and credit ...