1.

Assertion (A): At time of change in profit sharing ratio goodwill appears in the books is written off among existing partners in their old profit sharing ratioReason (R): Goodwill Cannot be raised in the books of the firm unless no consideration in money has been paid for it a. Both A and R are correct b. Both A and R are incorrectc. A is true but R is not correct explanation of A d. A is incorrect but R is correct

Answer»

Correct option is c. A is true but R is not correct explanation of A



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