Maharashtra State BoardHSC Commerce 12th Board Exam
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State 'True' Or 'False' If the Goodwill Account Raised Up, Goodwill Account is Debited. - Book Keeping and Accountancy

MCQ

State 'True' or 'False'
If the goodwill account raised up, goodwill account is debited.

Options

  • True

  • False

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Solution

False

Explanation: If the goodwill account is raised, then goodwill or premium account is credited, whereas, cash/ bank account is debited if the amount is brought in cash.

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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 3 Reconstitution of Partnership (Admission of Partner)
Exercise | Q 8 | Page 108
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