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The deed says that on death of a partner goodwill will be twice the average profit of three years. For what is this information needed?

Answer and explanation

Correct answer: Settlement of deceased partners share

On death, the deceased partner may be entitled to share of goodwill. The method in the deed makes settlement clear.

Related tags

Death Of PartnerGoodwillSettlementPartnership DeedPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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