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Accountancy · 2026 · 1 mark
CBSE 2026 · Region 4 · Set 1 · Q15
Assertion (A) : Goodwill is an 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. Choose the correct option from the following :
Official answer
From CBSE’s own marking scheme for this paper.
(A)
Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A)
Marking-scheme solution
(A)
Both Assertion (A) and Reason (R) are correct, and Reason (R) is the correct explanation
of Assertion (A).
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CBSE Class 12 Accountancy past-paper question from the 2026board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.