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Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer?.

Solutions for Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? in English & in Hindi are available as part of our courses for Class 12. Download more important topics, notes, lectures and mock test series for Class 12 Exam by signing up for free.

Here you can find the meaning of Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? defined & explained in the simplest way possible. Besides giving the explanation of Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer?, a detailed solution for Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? has been provided alongside types of Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? theory, EduRev gives you an ample number of questions to practice Read the following case study and answer question on the basis of the same.Tony and Rony started a partnership firm, TR CDs to manufacture music CDs wayback in 1990. Now since the music CDs are out of business, they plan to sell the business to one of the major content production houses in Mumbai. For the purpose of selling business, they reached to their accountant to calculate the goodwill and other financial advice. He suggested that since the CDs are very less in demand, their goodwill value will be hampered. Nonetheless, the framework for goodwill calculation was decided as follows‘The goodwill be valued at 4 years’ purchase of super profits.’ The following financial information was obtained at the end of this transactionAssets 8,000 Creditors 1,000 Normal rate of return 10% Goodwill of the firm 1,000. What is the super profit of business?a) 250b) 1,000c) 500d) 1,250Correct answer is option 'A'. Can you explain this answer? tests, examples and also practice Class 12 tests.