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9) On admission of a new partner how is the goodwill created? a. Debit goodwill;...

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Accounting

9) On admission of a new partner how is the goodwill created?

a.

Debit goodwill; Credit partners capital account

b.

Debit goodwill; Credit partners current account

c.

Debit partners capital account; credit goodwill

d.

Debit partners current account; credit goodwill

10)When we use super profit method for goodwill valuation

a.

Firm earns higher profit

b.

None of these options

c.

Average profit

d.

Firm earns normal profit

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