Multiple choice Average profit is calculated as total of goodwill / number of years total products of profits / total of weights total of profits / number of years none of above Reveal answer Fill a bubble to check yourself C Correct answer Explanation It is used to calculate average profits of a number of years. For example - the profits in the last three years are Rs 12,000 , Rs 15000, Rs18000. Average Profit = Rs 12,000 + Rs 15,000 + Rs 18,000 = Rs 15,000 3