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12th Class Accountancy Admission of a Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner

  • question_answer
    X and Y sharing profits in the ratio of 5:3. They admit Z as a new partner. Z brings Rs. 70,000 as cash and 43,000 against his premium for goodwill. New profit sharing ratio between X, Y and Z is 7 : 5 : 4. The Sacrificing ratio of X and Y:

    A) 3:1

    B) 5:9

    C) 1:3

    D) 4:5

    Correct Answer: A

    Solution :

    3:1


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