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easyMCQCUET Accountancy 2022 20 July Shift 12026Accountancy
1 mark

At the time of admission of a partner, if nothing is specified then new partner acquires his share from old partners.

  1. A
    In New Profit Sharing Ratio
  2. B
    In Old Profit Sharing Ratio
  3. C
    In Gaining Ratio
  4. D
    In Sacrificing Ratio

Solution & Step-by-step Explanation

By default, in the absence of any specific agreement, it is presumed that the new partner acquires his share from the old partners in their old profit sharing ratio. Thus, the old partners sacrifice in their old profit sharing ratio.

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At the time of admission of a partner, if nothing is specified then new partner acquires his share from old partners.
A
In New Profit Sharing Ratio
B
In Old Profit Sharing Ratio
C
In Gaining Ratio
D
In Sacrificing Ratio

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