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प्रश्न
State Whether the following Statement is True or False:
When new partner does not bring his share of goodwill in cash, goodwill account is debited.
चूक किंवा बरोबर
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उत्तर
The statement is false.
Explanation:
According to current accounting standards (such as AS-26 / CBSE guidelines), a Goodwill Account cannot be raised/debited in the books of accounts because it is internally generated, not purchased.
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