12th Class
Accountancy
Goodwill
Question Bank
MCQs - Goodwill : Nature And Valuation
question_answer
The net profits for the last 3 years were: 2018-19 Rs.80,000; 2019-20 Rs.1,20,000 and 2020-21 Rs.1,50,000. Included in the profit, there was an abnormal gain of Rs.20,000 and closing stock was overvalued at Rs.10,000 in 2019-20. Adjusted average profit will be: