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Accountancy · 2023 · 1 mark
CBSE 2023 · Region 1 · Set 3 · Q4
Assertion (A): Goodwill is a intangible asset. Reason (R): Goodwill is the value of the reputation of a firm in respect of profits expected in…
Assertion (A) : Goodwill is a intangible asset. Reason (R) : Goodwill is the value of the reputation of a firm in respect of profits expected in future, over and above the normal profits. Select the correct answer from the following :
Official answer
(C)
Both Assertion (A) and Reason (R) are correct
Marking-scheme solution
(c)
Both Assertion (A) and Reason (R) are correct
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CBSE Class 12 Accountancy past-paper question from the 2023 board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.