Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

In a partnership firm, What will the amount of Goodwill if it is calculated by more than one method?

Options:

Same

Different

Difference of small amount arise which is not considered by firm for any decision

None of these

Correct Answer:

Different

Explanation:

Each method will give different amount of goodwill because calculation of goodwill is done differently in each method.