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Class 12 Accountancy Partnership Accounts - Basic Concepts GoodwillExpert

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Profits are (₹360000), (₹420000), (₹540000). Future expense will increase by (₹30000). Normal profit is (₹350000). What will be super profit?

Answer and explanation

Correct answer: (₹60000)

Average profit is (₹440000) and after deducting future expense it becomes (₹410000). Super profit is (410000-350000=₹60000).

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

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