| Directions (Q. Nos. 1-5): Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R). Give answer: |
| Assertion (A): At the time of admission of a partner, new profit sharing ratio is calculated even for old partners. |
| Reason (R): A new partner acquires his share in profits from old partners which reduces old partner's share in profits. |
A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C) Assertion (A) is true but Reason (R) is false.
D) Assertion (A) is false but Reason (R) is true.
Correct Answer: A
Solution :
[a]
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