The excess of value of assets over the purchase considera...
The excess of value of assets over the purchase consideration on acquisition of a business is to
Share capital account
Goodwill account
Capital reserved account
General reverse account
Correct answer is B
In accounting, goodwill is the value of the business that exceeds its assets minus the liabilities.
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Given: Fixed assets N85,600 Sales N197,000 Stock N34,300 Salaries N37,000 Purchases N127,700 S...