Multiple Choice Questions on Calculate the Normal Rate of Return if normal profit is 30 000 assets are 5 30 000 and liabili........... for Common University Entrance Test (CUET) Preparation

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Multiple Choice Questions

Calculate the Normal Rate of Return if normal profit is 30 000 assets are 5 30 000 and liabili...........

Accountancy (CUET) Fundamentals of Partnership
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     Calculate the Normal Rate of Return if normal profit is ?30,000, assets are ?5,30,000, and liabilities are ?30,000 while calculating the value of goodwill of the firm at the time of admission of a partner.

    This questions was previously asked in
    CUET ACCOUNTANCY Previous Year Paper (2023)
    View All cuet Previous Year Papers

     5.6%

    Incorrect Answer

     6%

    Correct Answer

    5.3%

    Incorrect Answer

    5%

    Incorrect Answer
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    Explanation:

    olution with Explanation:

    The Normal Rate of Return (NRR) is calculated using the formula:

                                                   NRR=(  Normal Profit   )×100

                                                           Capital Employed

    Step 1: Calculate Capital Employed

                                                      Capital Employed=Total Assets−Liabilities

                                                                                    =5,30,000−30,000

                                                                                     =5,00,000

    Step 2: Apply the Formula

                                        NRR=(  30,000  ) ×100

                                                    5,00,000

                                                =6%
     

    Correct Answer:

     (b) 6%

    By: AARTI
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