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In the method of raising goodwill account at full value and later writing it off which account is first debited with full goodwill?

Answer and explanation

Correct answer: Goodwill account

When full goodwill is raised the goodwill account is first debited. Later it is written off in the appropriate ratio.

Related tags

Goodwill-SettlementGoodwill-AccountJournal-EntryGoodwill SettlementReconstitution Retirement Or Death Of A PartnerAccountancyClass 12 Mcq

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