Question

At the time of Internal Reconstruction Assets are written off except
a) Land and Building
b) Goodwill
c) Preliminary expenses
d) Profit & Loss A/c​

Answer 1

Answer:

b. goodwill cannot we written as it is not written at the time of internal reconstruction assets

Explanation:

hope it's helpful to you!!

Answer 2

Goodwill is not written off at the time of Internal Reconstruction Assets.

• The goodwill of a firm is an intangible asset that adds to the value of the firm but it cannot be valued in numbers easily.
• Goodwill is usually associated when the business is sold or purchased.
• Goodwill can be valued in partnership firms when a new partner joins the firm or an existing partner leaves.