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At the time of admission of a new partner in the firm, the new partner compensates the old partners for their loss of share in the Super Profits of the firm for which he brings in an additional amount which is known as__. (CBSE 2020)

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

Goodwill or Premium for Goodwill.


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Previous PostWhy should a new partner contribute towards goodwill on his admission? (Delhi 2017 C)
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