Goodwill: Class 12 Previous Year Questions

Goodwill questions asked in CBSE board exams

Repeated questions first. Open the free app to see each question as it appeared in the paper, with its marking scheme.

1. Kiran, Raveena and Hina were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. The firm closes its books on 31st March every year. As per the terms of the partnership deed, on the death of any partner, the goodwill of the firm will be ca…
   Board 20264 marksshort answer
2. Average profit of a firm during the last few years is 8,00,000. In similar business, the normal rate of return is 10% of the capital employed. Assets of the business were 60,00,000 and its external liabilities were 20,00,000. Calculate the value of goodwill by…
   Board 20263 marksshort answer
3. (a) Average profits ofa firm during thelastfewyears were 1,60,000. The normal rate of return in a similar business is 10%. If the goodwill of the firm is 4,00,000 at four years purchase of super profit, find the capital employed by the firm. OR (b) A business …
   Board 20263 marksshort answer
4. The books of Mehul and Barkha showed that their capital employed on 31st March, 2025 was 6,00,000. If the normal profits are 60,000 and super profits are 20,000, then the normal rate of return is : (A) (B) 6% 15% (C) 30% (D) 10% 2. : () () ·· (A) (A)(R)(R), (A…
   Board 20261 markAssertion-Reason
5. Simar, Tanvi and Umara were partners. in a firm, sharing profits and losses in the ratio of 5 : 6 : 9.On 31st March, 2024 their Balance Sheet was as follows : Balance sheet of Simar, Tanvi and Umara as at 31st March, 2024 Amount Liabilities Assets Amount () ()…
   Board 20254 marksshort answer
6. The capital of the firm of Rajat and Karan is 15,00,000 and the market rate of interest is 12%. Annual salary of Rajat and Karan is 20,000 and 30,000 respectively. The profits for the last three years were 2,40,000, 2,80,000 and 3,20,000. Goodwill of the firm …
   Board 20253 marksshort answer
7. Page 16 of 39 21. A{X{V, aoZy Ed§ dfm© EH$ _| gmPoXma Wt VWm 3 : 2 : 5 -hm{Z H$m {d^mOZ H$aVr Wt & 31 , 2023 H$mo CZH$m pñW{V {ddaU {ZåZ àH$ma go Wm : 31 _mM©, 2023 H$mo A{X{V, aoZy Ed§ dfm© H$m pñW{V {ddaU Xo`VmE± am{e < n[agån{Îm`m± am{e < ny±Or : ^dZ 6,00,0…
   Board 20244 marksshort answer
8. Am_ra, ~era VWm {MamJ EH$ _| gmPoXma Wo VWm 3 : 3 : 2 Ho$ -hm{Z H$m {d^mOZ H$aVo Wo & {MamJ godm{Zd¥Îm hmo J`m & Am_ra VWm ~era Zo ^{dî` _| bm^-hm{Z H$m {d^mOZ 1 : 2 Ho$ Ho$ {XZ \$_© H$s »`m{V H$m _yë`m§H$Z < 5,40,000 {H$`m J`m & A{Ybm^ AZwnmV H$s JUZm H$s{OE …
   Board 20243 marksshort answer
9. 1 Aà¡b, 2023 H$mo EH$ gmPoXmar \$_© H$s n[agån{Îm`m± < 2,00,000 Wt, {Og_| < 6,000 ZJX VWm < 14,000 H$m ~¢H$ eof gpå_{bV Wm & gmPoXmam| Ho$ n±yOr ImVo < 1,90,000 H$m eof Xem© aho Wo Am¡a ~mH$s H$s am{e H$m g§M` Wm & `{X bm^ H$s gm_mÝ` à{V\$b Xa 10% h¡ VWm \$_© …
   Board 20243 marksshort answer
10. JJJJ Page 14 20. (H$) 1 Aà¡b, 2022 H$s y±Or < 1,50,000 h¡ & {Z`mo{OV ny±Or na à˶m¶ H$s gm_mÝ` Xa 10% 23,500 h¢ & 3 AWdm JJJJ Page 15 17. Suman, Vivek and Vinod were partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. Suman retired on 1st …
    Board 20233 marksshort answer
11. (a) Mohan, Sohan and Suresh were partners in a firm sharing profits in the ratio of 2:2:1. Suresh was guaranteed a profit of 70,000. Any deficiency on account of guarantee to Suresh was to be borne by Mohan and Sohan in 3:2 ratio. The profit of the firm for th…
    Board 20233 marksshort answer
12. JJJJ Page 9 10. Assertion (A) : Goodwill is a intangible asset. Reason (R) : Goodwill is the value of the reputation of a firm in respect of profits expected in future, over and above the normal profits. 1 Select the correct answer from the following : (a) Ass…
    Board 20231 markAssertion-Reason
13. Ajay, Vijay, Sanjay and Dhananjay are partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1 : 1. Vijay decided to retire from the firm. The Goodwill of the firm was valued at 12,00,000. Pass necessary journal entry for the treatment of Goodwi…
    Board 20221 markvery short
14. A, B and C were partners sharing profits and losses in the ratio of 5:3:2. A died on 1st October 2025. The loss till the date of death was calculated at ₹ 75,000. Goodwill is to be valued at two years’ purchase of the average profits of the last three years. T…
    Sample paper 2026-271 markMCQ
15. Doremon, Shinchan and Nobita are partners sharing profits and losses in the ratio of 3:2:1. With effect from 1st April, 2022 they agree to share profits equally. For this purpose, goodwill is to be valued at two year’s purchase of the average profit of last fo…
    CBSE practice 2022-233 marksshort answer
16. Ravinder and Savita were partners sharing profits in the ratio of 3:2. Kavita was admitted for 1/5th share in profits and she brought ₹3,00,000, including ₹30,000 towards goodwill. After adjusting for goodwill, revaluation of assets and liabilities, and reserv…
    Sample paper 2026-271 markMCQ
17. David and Garry are partners in a firm with capitals of Rs. 90,000 and Rs. 80,000 respectively. Zenith brings Rs.70,000 as his capital for 1/4th share in profits. Zenith’s share of goodwill will be: (a) Rs. 34,000. (b) Rs. 29,000. (c) Rs.10,000. (d) Rs.14,000.
    CBSE practice 2023-241 markMCQ
18. Kate and Vincet were partners in a firm. On 1st April, 2022, the firm had assets of Rs.90,000 including cash of Rs. 8,000. The partners’ capital accounts showed a balance of Rs. 70,000 and reserves constituted the rest. The normal rate of return is 30% and ave…
    CBSE practice 2023-243 marksshort answer
19. Aman, Balraj and Chetan are partners sharing profits and losses in the ratio of 5:4:3. Chetan retires and is credited for 9,000 as goodwill. How much will be debited to Aman in respect of goodwill adjustment: A. ₹ 20,000 B. ₹ 16,000 C. ₹ 5,000 D. ₹ 4,000
    CBSE practice 2023-241 markMCQ
20. Aarav Ltd. acquired the business of Mehul Ltd. as per the following agreement: • Assets of ₹ 20,00,000 were taken over at ₹18,00,000 • Liabilities of ₹ 2,80,000 were taken over at ₹2,50,000 The purchase consideration was discharged by: • Issuing 12,000 equity …
    Sample paper 2026-271 markMCQ

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