1. An asset which is not fictitious but intangible in nature, having realisable value is:

2. Profits for the last three years were ₹ 6,000, ₹ 13,000 and ₹ 8,000 respectively. Goodwill at two years purchase of the average net profit will be:

3. The profit for the last three years is ₹ 42,000, ₹ 39,000, and ₹ 45,000. Value of goodwill at two years purchase of the average profits will be:

4. Under average profit basis, Goodwill is calculated by:

5. As per Accounting Standard .............. only purchased goodwill shall be shown in the books of accounts.

6. Following are the factors affecting Goodwill except:

7. Which of the following is not a method of valuation of goodwill?

8. Goodwill is a ................ asset.

9. Goodwill is:

10. Capital employed in a business is ₹ 1,50,000; Profits are ₹ 50,000 and the normal rate of profit is 20 %. The amount of goodwill as per the capitalization method will be:

11. The excess of actual or average profits over the normal profits are called:

12. Weighted average method of calculating Goodwill is used when:

13. What do you mean by Super Profit?

14. 'Goodwill is nothing more than the probability that the old customer will resort to the old place'. This definition of goodwill was given by:

15. Under capitalization method, Goodwill is calculated by:

16. When there is no Goodwill Account in the books and Goodwill is raised, .............. account will be debited:

17. A form has an average profit of ₹ 60,000. The rate of return on capital employed is 12.5 % p.a. Total capital employed in the firm was ₹ 4,00,000. Goodwill on the basis of 2 years purchase of super profit is:

18. What will be the value of goodwill at twice the average of the last three years' profit if the profits of the last three years were ₹ 4,000, ₹ 5,000, and ₹ 6,000:

19. Firm has earned exceptionally high Profits from a contract which will not be renewed. In such a case the profit from this contract will not be included in:

20. The Valuation of goodwill is not necessary for Sole Trading:

21. Goodwill is to be calculated at one and half years' purchase of average profit of last 5 years. The firm earned profits during 3 years of ₹ 20,000, ₹ 18,000, and ₹ 9,000 and suffered losses of ₹ 2,000 and ₹ 5,000 in the last 2 years. The amount of goodwill will be:

22. Goodwill of ................. nature has a high level.

23. The capacity of ................... nature of goodwill is low.

24. The monetary value of the reputation of the business is called .....................

25. Goodwill is a ...................

26. Under super profit basis goodwill is calculated by: