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What is a common caution in modern exam practice regarding Goodwill Account in books?

Answer and explanation

Correct answer: Open Goodwill Account only when the question clearly says so

Often goodwill is adjusted directly through capital accounts. The instruction in the question is very important.

Related tags

Exam CautionGoodwill AccountAdjustmentGoodwill AccountingReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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