You are to buy an existing business which has assets valued at buildings 50,000, Motor vehicles 15,000,
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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
(A) You are paying £40,000 for Goodwill
(B) Buildings are costing you £30,000 more than their value
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The correct answer is B Buildings are costing you 30000 more than th...View the full answer
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Related Book For
Frank Woods Business Accounting Volume 1
ISBN: 9780273681496
10th Edition
Authors: Frank Wood, Alan Sangster
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