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Class 12 Accountancy Partnership Accounts - Basic Concepts GoodwillMedium

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If average profit is (₹60000) and normal profit is (₹76000), what will be the super profit?

Answer and explanation

Correct answer: Negative (₹16000) or may be treated as nil

Average profit is less than normal profit, so there is no excess profit. In goodwill questions it may generally be treated as nil super profit.

Related tags

Goodwill No Super Profit Negative Super Profit Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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