A and B share profits 3:2. They admit C with 1/5th share. C brings ₹30,000 as capital and ₹10,000 as goodwill. The total goodwill of the firm is: MCQ with Answer and Explanation

A and B share profits 3:2. They admit C with 1/5th share. C brings ₹30,000 as capital and ₹10,000 as goodwill. The total goodwill of the firm is:
A. ₹2,00,000
B. ₹50,000
C. ₹10,000
D. Cannot determine
Answer: Option B
Solution (By JKSSB Mock Tests)
C's share of goodwill = 1/5 = ₹10,000. So total goodwill = 10,000 × 5/1 = ₹50,000.

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The 'Kisan Credit Card' (KCC) is a scheme for:
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Correct Answer: Option A


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KCC provides short-term credit to farmers.

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Correct Answer: Option C


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CAG submits reports to the President (Union) or Governor (State), who cause them to be laid before Parliament/Legislature.

Question #3
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Correct Answer: Option B


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