Under what circumstances premium for Goodwill paid by the incoming partner is not recorded in the books of account? (Delhi 2014 C) – Swamonk EduCare

Under what circumstances premium for Goodwill paid by the incoming partner is not recorded in the books of account? (Delhi 2014 C)

Post category:Accountancy
Reading time:1 mins read

SOLUTION

Premium for Goodwill is not recorded in the books of account when the incoming partner pays it privately to the sacrificing partners.

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