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प्रश्न
To value the goodwill of a partnership firm at the time of its reconstitution, which one of the following items is added back to the previous year’s profit to find the normal profit?
पर्याय
Gain from sale of shares
Insurance premium paid
Undervaluation of closing stock
Overvaluation of closing stock
MCQ
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उत्तर
Undervaluation of closing stock
Explanation:
Undervaluation of closing stock reduces the profit of the previous year. To arrive at the normal profit while valuing goodwill, such abnormal or incorrect reductions in profit are added back.
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