Define Purchase return
Describe the term Purchase return with suitable example?
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Purchase return signifies the return of goods that is received by businessman due to any fault/mistake in goods.
Assume that, you have bought 10 computers for selling. However when there is fault in one computer and you return this to your supplier, then this will be purchase return.
Super Profit Method: (Goodwill method): When a firm earns huge profit in comparison to normal profit (usually earned by other firms of similar industry) then the difference is termed as Super Profit. Goodwill is computed on the basis
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