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Subject - Accounting:

General Concepts

MCQ - 76-78

Question:

You are to buy an existing business which has assets valued at buildings £50,000, Motor vehicles £15,000, Fixtures £5,000 and Stock £40,000. You are to pay £140,000 for the business. This means that:

  1. You have made an arithmetical mistake
  2. You are paying £40,000 for Goodwill
  3. Buildings are costing you £30,000 more than their value
  4. You are paying £40,000 for Goodwill

Correct Answer: D

Explanation:

Not available

Record Performance

355 MCQ for effective preparation of the test of General Concepts of Accounting section.

Read the MCQ statement: You are to buy an existing business which has assets valued at buildings £50,000, Motor vehicles £15,000, Fixtures £5,000 and Stock £40,000. You are t .... s. This means that: , keenly and apply the method you have learn through the video lessons for General Concepts to give the answer. Record your answer and check its correct answer and video explanation for MCQ No. 76-78.

How to Answer

Solve the question for MCQ No. and decide which option (A through D/E) is the best choice to answer the MCQ, then click/tap the blue button to view the correct answer and it explanation.

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