TN State Board Samacheer Kalvi Online Test for 11th Std - Accountancy - English - Goodwill in Partnership Accounts

Question 1 Of 10

The average rate of return of similar concerns is considered as

Average profit Normal rate of return Expected rate of return None of these

Question 2 Of 10

When the average profit is ₹ 25,000 and the normal profit ₹ 15,000 super profit is

₹ 25,000 ₹ 5,000 ₹ 10,000 ₹ 15,000

Question 3 Of 10

Which of the following statement is true?

Goodwill is an intangible asset Goodwill is a current asset Goodwill is a fictitious asset Goodwill cannot be acquired

Question 4 Of 10

Which of the following is true?

Super profit = Total profit / number of years Super profit = Weighted profit / number of years . Super profit = Average profit – Normal profit Super profit = Average profit × Years of purchase

Question 5 Of 10

The total capitalised value of a business is ₹ 1,00,000; asset are ₹ 1,50,000 and liabilities ₹ 80,000. the value of goodwill as per the capitalisation method will be

₹ 40,000 ₹ 70,000 ₹ 1,00,000 ₹ 30,000

Question 6 Of 10

Super profit is the difference between

Capital employed and average profit Assets and liabilities Average profit and normal profit Current year’s profit and average profit

Question 7 Of 10

Identify the incorrecte pair

Good will under average profit method – Average profit × Number of years of purchase Goodwill under Super profit method – Super profit × Number of years of purchase Goodwill under Annuity method – Average Profit × Present value annuity factor Goodwill under Weighted average profit method – Weighted average profit x Number of years of purchase

Question 8 Of 10

Book profit of 2017 is ₹ 35,000; non -recurring income included in the profit is ₹ 1,000 and abnormal loss charged in the year 2017 was ₹ 2,000, then the adjusted profit is

₹ 36,000 ₹ 35,000 ₹ 38,000 ₹ 34,000

Tamil Nadu State Board ( Samacheer Kalvi ) Online Test based on Book Back Questions - 11th Standard Accountancy - English Medium - Goodwill in Partnership Accounts

Samacheer Kalvi 11th Accountancy - Goodwill in Partnership Accounts - Book Back Questions in English Medium