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Questions
3PQKGM5A75
Target Exam
CUET
Subject
Accountancy
Chapter
Admission of a Partner
Question:
"A firm's Super Profit is 5,000 and Total Assets are of Rs 1,00,000. Whereas external liabilities are of Rs 35,000. NRR is 10%. Calculate Average Profit. "
Options:
15,000
11,500
1,500
5,000
Correct Answer:
11,500
Explanation:
"SP + NP = AP
NP = (1,00,000 - 35,000 ) * 10% = 6,500
SP = 5,000
AP = 5,000 + 6,500 = 11,500
"
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