Arrange the steps of adjustment of partners capital on the admission of a new partner in sequence. |
1. Calculate the adjusted capital of old partners. |
2. Calculate the proportionate capital of new partner. |
3. All adjustments should be made. |
4. Calculate the total capital of new firm. |
A) 3, 1, 4, 2
B) 3, 4, 1, 2
C) 4, 3, 2, 1
D) 3, 4, 2, 1
Correct Answer: C
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