Under capitalisation method of calculating goodwill, the term capital refers to :
(
This question was previously asked in
Shift 07/06/2023 3:30 PM - 6:30 PM
A
Amount standing to the credit of capital account of partners
B
Total assets minus liabilities
C
Total assets excluding goodwill and fictitious assets minus outsiders liabilities
D
Capital calculated on the basis of new partner's capital and his share of profit
Correct Answer
Total assets excluding goodwill and fictitious assets minus outsiders liabilities
Detailed Explanation
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