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  3. 12th Class
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  5. Admission of a Partner

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

  • question_answer
    L and M are partners in a firm, sharing profits in the ratio of 7:3. They admit N for 3/7th share of profits, which he takes 2/7th from L and 1/7th from M. New profit sharing ratio:

    A) 29:11:30

    B) 7:3: 2

    C) 29: 20: 12

    D) 7:3:3

    Correct Answer: A

    Solution :

    29:11:30


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