9) On admission of a new partner how is the goodwill created? a. Debit goodwill;...
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Accounting
9) On admission of a new partner how is the goodwill created?
a.
Debit goodwill; Credit partners capital account
b.
Debit goodwill; Credit partners current account
c.
Debit partners capital account; credit goodwill
d.
Debit partners current account; credit goodwill
10)When we use super profit method for goodwill valuation
a.
Firm earns higher profit
b.
None of these options
c.
Average profit
d.
Firm earns normal profit
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