HomeTestsSearchRankProfile
easyMCQCUET Accountancy 2025 27 May Shift 22026Accountancy
1 mark

________ is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits.

  1. A
    Goodwill
  2. B
    Patent
  3. C
    Copyright
  4. D
    Capital

Solution & Step-by-step Explanation

Goodwill represents the value of a business's commercial reputation which enables it to earn higher future profits (super profits) compared to a newly set up business in the same industry earning only normal profits.

Practice this question

Try it yourself before checking the explanation above.

________ is the value of the reputation of a firm in respect of the profits expected in future over and above the normal profits.
A
Goodwill
B
Patent
C
Copyright
D
Capital

Share This Question

Related Questions

Ready for a Full Test?

Practice with timed mock tests and track your performance across Accountancy.

Discussion