12th Accountancy Chapter 4 Online Test | Goodwill in Partnership Accounts

12th Accountancy Chapter 4 Online Test | Goodwill in Partnership Accounts

12th Accountancy All Chapter Online Test Both Tamil medium and English Medium Available our samacheer guide online website .

Chapter 2 Goodwill in Partnership Accounts- Online Test

1➤ Which of the following statements is true?

(a) Goodwill is an intangible assetb) Goodwill is a current asset(c) Goodwill is a fictitious asset(d) Goodwill

2➤ Super profit is the difference between ………………..

(a) Capital employed and average profit(b) Assets and liabilities(c) Average profit and normal profit(d) Current year’s profit and average profit

3➤ The average rate of return of similar concerns is considered as ………………..

(a) Average profit(b) Normal rate of return(c) Expected rate of return(d) None of these

4➤ Which of the following is true?

(a) Super profit = Total profit / number of years(b) Super profit = Weighted profit / number of years(c) Super profit = Average profit – Normal profit(d) Super profit = Average profit x Years of purchase

5➤ Identify the incorrect pair ………………..

(a) Goodwill under Average profit method – Average profit x Number of years of purchase(b) Goodwill under Super profit method – Super profit x Number of years of purchase(b) Goodwill under Super profit method – Super profit x Number of years of purchase(d) Goodwill under Weighted average profit method – Weighted average profit x Number of years of purchase

6➤ When the average profit is ₹ 25,000 and the normal profit is ₹ 15,000, super profit is ………………..

(a) ₹ 25,000 (b) ₹ 5,000 (c) ₹ 10,000 (d) ₹ 15,000

7➤ 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 ………………..

(a) ₹ 36,000 (b) ₹ 35,000 (c) ₹ 38,000 (d) ₹ 34,000

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

(a) ₹ 40,000 (b) ₹ 70,000 (c) ₹ 1,00,000 (d) ₹ 30,000

9➤ Goodwill is valued under ………………

(a) Average profit method (b) Super profit method (c) Capitalisation method (d) All of these

10➤ Average profit method can be further divided ………………

(a) Simple average profit(b) Weighted average profit(c) Both (a) and (b)d) None of these

11➤ Super profit is

(a) Average profit – Normal profit (b) Normal profit – Average profit (c) Both (a) and (b) (d) None of these

12➤ Kinds of goodwill ………………

(a) Purchased goodwill(b) Self – generated goodwill(c) None of these(d) Both (a) and (b)

13➤ Nature of goodwill is ………………

(a) Reputation of business firmb) Profit of firm(c) total asset of firm(d) None of these

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