Share of goodwill brought in cash by the

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Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

Share of goodwill brought in cash by the new partner is called:

Options:

Profit

Premium

Asset

None of the above

Correct Answer:

Premium

Explanation:

Share of Goodwill Brought in Cash by the New Partner is called Premium for goodwill.