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If goodwill account is raised and immediately written off in new ratio, what will be the final balance of goodwill account?

Answer and explanation

Correct answer: Nil

Goodwill account is opened with an amount and written off with the same amount. Therefore the account is closed.

Related tags

GoodwillRaise Write OffFinal BalancePartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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