Question

fill in the blanks introduction of new - helps to generate goodwill ​

Answer 1

Explanation:

Fill in the blanks with appropriate words: <br> (i) Goodwill is an ______ asset, but not a ________ asset <br> (ii) Goodwill is a capitalised value of _______ <br> (iii) Under Average Profit Method, goodwill is calculated by multiplying the _______ by a certain number of year's purchase as agreed by the partners. <br> (iv) ________ is the excess of actual profit over the normal profit <br> (v) When the business is taken over by another business, the excess of purchase consideration over its net asset value is referred to as ______ <br> (vi) The value of goodwill is based on______ judgment of the value. <br> (vii) Under_____ method goodwill is the excess of Capitalised Value of business over Net Assets. <br> (viii) Average Profit = __________ <br> (ix) Anyfirm that earns only normal profits or is incurring loss, normally does not have____________