Question : Increase in value of Goodwill means___________

Option 1: Goodwill purchased

Option 2: Non purchased goodwill ( self - Generated goodwill )

Option 3: Both 1 and 2

Option 4: None of the above

Question : In the case of Non–purchased goodwill account can:

Option 1: Be partially raised in the books

Option 2: Never be raised in the books

Option 3: Both 1 and 2

Option 4: None the these

Question : Scarcity is _______.

Option 1: Universal

Option 2: Non-universal

Option 3: Both 1 and 2

Option 4: None of the above

Question : Which statements is not true with respect to AS-26? 

Option 1: Purchased goodwill can be shown in the Balance Sheet assets side. 

Option 2: Revalued goodwill can be shown in the Balance Sheet 

Option 3: Both purchased goodwill and revalued can be shown in the Balance Sheet 

Option 4: None of the above 

Question : Goodwill is not accounted in the books if:

Option 1: It is a Purchased Goodwill

Option 2: It is a Self Generated Goodwill

Option 3: It is decided to be accounted by the Partners

Option 4: Its amount is paid by the Gaining Partner