| Read the following hypothetical text and answer the given questions: |
| Bhavya and Naman were partners in a firm carrying on a tiffin service in Hyderabad Bhavya noticed that a lot of food is left at the end of the day. To avoid wastage, she suggested that it can be distributed to the needy; Naman wanted that it should be mixed with the food being served the next day. Naman then give a proposal that if his share in the profit increased, he will not mind free distribution of left-over food Bhavya happily agreed So, they decided to change their profit sharing ratio 1:2 with immediate effect. On that date revaluation of assets and reassessment of liabilities was carried out that resulted into a gain of Rs. 18,000. On that date the goodwill of the firm was valued at Rs. 1,20,000. |
| Based on the above information you are required to answer the following questions: |
| Sacrifice/Gain of Bhavya and Naman will be: |
A) Bhavya sacrifice 1/6, Naman gains 1/6
B) Bhavya gains 1/6, Naman sacrifice 1/6
C) Only Bhavya gains 1/6
D) Only Naman sacrifice 1/6
Correct Answer: A
Solution :
| [a] Bhavya sacrifice 1/6, Naman gains 1/6 |
| Hint: Sacriricing/(Gaining) Ratio = Old Share - New Share |
| Bhavya =\[\frac{1}{2}-\frac{1}{3}=\frac{3-2}{6}=\frac{1}{6}\] Sacrifice |
| Naman =\[\frac{1}{2}-\frac{2}{3}=\frac{3-4}{6}=\left( \frac{1}{6} \right)\operatorname{Gain}\] |
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