Practice question

MCQ

Question

Good will of Indian bears, a partnership firm, is ₹ 10,00,000 calculated on 2.5 years’ purchase of average profits of last 3 years.
What is value of X?
[Image based question - refer to figure]

Options

Choose one · Correct answer highlighted

₹ 65,00,000 ₹ 4,00,000 ₹ 2,00,000 Correct ₹ 15,00,000

Explanation

₹ 2,00,000 partnership correct; deed provisions interest capital drawings as per Act.

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Good will of Indian bears, a partnership firm, is ₹ 10,00,000 calculated on 2.5 years’ purchase of average profits of last 3 years. What is value of X? [Image based question - refer to figure]