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Accountancy · 2025 · 1 mark
CBSE 2025 · Region 6 · Set 1 · Q14
Uma and Veena were partners in a firm sharing profits and losses in the ratio of $\displaystyle 4$ : 5. On 1st April, $\displaystyle 2024$ they decided to admit Usha as a new partner for th share in the profits of the firm. On Usher's admi ssion it was decided that the goodwill of the firm will be valued equal to the previous year's profit. The profit for the year ended 31st March, $\displaystyle 2024$ were ₹ $\displaystyle 5,76$,000. However, to arrive at this profit, both the opening stock and closing stock were overvalued by ₹ $\displaystyle 50$,000. The goodwill of the firm will be :
Official answer
From CBSE’s own marking scheme for this paper.
(A)
₹ $\displaystyle 5,76,000$
Marking-scheme solution
(A)
₹$\displaystyle 5,76,000$
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CBSE Class 12 Accountancy past-paper question from the 2025board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.