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Other Chapters For 12th

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12th Class Chapter No 2 - Fundamentals of partnership and Goodwill in Accounts for CBSE NCERT

When partners carry on business with their firm for a long time, they earn a reputation for it. This reputation translates in monetary terms into expected future profits above normal profits. We commonly refer to this excess profit as the firm’s goodwill. A partnership includes at least two individuals (partners). In certain jurisdictions, there may be an upper limit to the number of partners.A partnership exists to carry on a business.
Posted in 12th on August 21 2019 at 06:10 PM

Other Accounts Chapters For 12th

  • 12th-class Accounts Chapter 11

    Meaning: It is a statement that shows flow (Inflow or outflow) of cash and cash equivalents...
  • 12th-class Accounts Chapter 10

    Accounting Ratio : It is an arithmetical relationship between two accounting variables. Ratio...
  • 12th-class Accounts Chapter 9

    Financial statements are the basic and formal annual reports through which the corporate...
  • 12th-class Accounts Chapter 8

    Debenture : It is a document issued by a company under its common seal acknowledging the debt...
  • 12th-class Accounts Chapter 7

    The certificate of incorporation of a company is issued by registrar of companies as per...
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    Retirement of a partner means ceasing to be partner of the firm. A partner may retire (i) of...
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    When a new partner is admitted in a running business due to the requirement of more capital or...

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