State the circumstances in which valuation of goodwill arises in case

1.	State the circumstances in which valuation of goodwill arises in case of partnership firm.
Answer» In case of partnership firm in the following circumstances valuation of goodwill takes place : (i) When changes in profit/ loss ratio takes place, (ii) In case of admission, retirement or death of a partner (iii) When status of the partnership firm changes.

State the circumstances in which valuation of goodwill arises in case of partnership firm.

Answer»

In case of partnership firm in the following circumstances valuation of goodwill takes place :

(i) When changes in profit/ loss ratio takes place, (ii) In case of admission, retirement or death of a partner (iii) When status of the partnership firm changes.

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State the circumstances in which valuation of goodwill arises in case of partnership firm.

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