alleryStart learning →A firm is bought for ₹50 lakh; assets at fair value ₹38 lakh, liabilities ₹9 lakh. Goodwill?
A₹29 lakh
B₹21 lakh
C₹12 lakh
D₹17 lakh
Answer & Solution
Correct answer: B. ₹21 lakh
Net assets are 29 lakh; the 50 lakh price less 29 lakh leaves 21 lakh of goodwill.
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