Goodwill can be introduced when
...Goodwill can be introduced when
The business suffers high loss
The business is being expanded
The partnership experience super profit
A new member is admitted
Correct answer is D
The circumstances giving rise to the ascertainment of goodwill are:
- admission of a new partner
- change in profit sharing ratio
- death or retirement of a partner
- the business has been purchased
- dissolution of a business
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