CBSE Class 12-commerce Answered
Why abnormal loss is added to business profit and abnormal gain is deducted from profit while calculating Goodwill of the firm?
Asked by raksha2sanubth | 13 Jul, 2020, 11:22: AM
Expert Answer
For calculating value of Goodwill based on the profits of the organisation, one has to consider only the Normal Profits. Therefore, any type of abnormal loss is added back and any type of abnormal gain is reduced from the given Profits to compute Normal Profits for the given period.
Answered by Akansha | 18 Jul, 2020, 01:02: PM
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