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  5. Change in Profit Sharing Ratio Among Existing Partner

12th Class Accountancy Change in Profit Sharing Ratio Among Existing Partner Question Bank MCQs - Change in Profit-Sharing Ratio Among Existing Partners

  • question_answer
    Vinod and Ashish are sharing profits in the ratio of 2:1. Now they have decided that new profit sharing ratio will be equal. What will be the Gain/Sacrifice Ratio?

    A) Vinod Gain 1/6 and Ashish Sacrifice 1/6

    B) Vinod Sacrifice 1/6 and Ashish Gain 1/6

    C) Vinod Gain 4/5 and Ashish Sacrifice 4/5 

    D) Vinod Sacrifice 2/3 and Ashish Gain 1/6

    Correct Answer: B

    Solution :

    Self-generated goodwill is shown in the assets side of Balance Sheet


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