Business studies Mcqs, Accounts Mcqs, Business studies notes,Quiz and case Based Questions, Quizizz

Goodwill: Meaning and Valuation Quiz-1 Index => Goodwill: Meaning and Valuation Quiz-1 Quiz Show all questions <=   => A firm’s goodwill is not affected by ?   Location of the firm ?   The reputation of the Firm ?   Better Customer Service ?   None of the Above If the amount of super profit is negative, what does is mean? ?   There is no goodwill ?   There is average goodwill ?   Both of the above ?   None of the above What is the formula for the valuation of goodwill based on the capitalization of super profit? ?   Goodwill equals to average profit multiplied by 100 divided by the normal rate of return. ?   Goodwill equals super profit multiplied by 100 divided by the normal rate of return. ?   Goodwill equals super profit multiplied by the normal rate of retur...

Accounting for partnership firms (fundamentals) Quiz-2 Index => Accounting for partnership firms (fundamentals) Quiz-2 Quiz Show all questions <=   => Which one from the below is not a right of a partner? ?   Right to inspect the books of ?   Right to take part in the management of the firm ?   Right to share the profit/losses with other partners in agreed ratio ?   Right to receive salary In partnership accounting, how is interest on partners' capital typically treated? ?   Interest on partners' capital is recorded as an expense in the partnership's income statement. ?   Interest on partners' capital is credited to partners' capital accounts. ?   Interest on partners' capital is debited to partners' capital accounts. ?   Interest on partners' capital is recorded as a liability in the partnership's b...