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Class 12 Accountancy Partnership Accounts - Basic Concepts GoodwillExpert

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Profits are (₹240000), (₹280000), (₹360000). Future expense will increase by (₹20000) per year. Normal profit is (₹230000). What will be super profit?

Answer and explanation

Correct answer: Approximately (₹43333)

Average profit is approximately (₹293333) and after deducting future expense it becomes (₹273333). Super profit is approximately (₹43333).

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Goodwill Super Profit Future Expense Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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