Category: 12th Accounts

Valuation of Goodwill[Chapter-2],Class 12 Accounts

Define Goodwill [1] List any four factors affecting goodwill. [1] How does the factor ‘Quality of Products’ affect the goodwill of a firm? [1] How does the factor ‘Location’ affect the goodwill of a firm? [1] How does the factor ‘Efficiency of Management’ affect the goodwill of a firm? [1] How does the market situation

Fundamental of Partnership[Chapter-1],Class 12 Accounts

Why Profit and Loss Appropriation Account is prepared? [1] State the provisions of ‘Indian Partnership Act, 1932’ in the absence of partnership deed regarding (i) Interest on Partner’s Drawings and (ii) Interest on Advances other than capital. [1] X and Y are partners in a firm without a partnership deed. X is active partner and
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