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P1 C3 VALUATION OF GOODWILL — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C3 VALUATION OF GOODWILL1 Mark
Question
What is average profit?
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Answer

When total profit of some last years is divided by number of years then the value received is known as average profit.

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