2. Questions Bank
  3. 12th Class
  4. Accountancy
  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
    A and B are partners in a business sharing profits and losses in the ratio of 7 : 3 respectively. They admit C as a new partner. A sacrificed 1/7th share of his profit and B sacrificed 1/3rd of his share in favour of C The new profit sharing ratio of A, B and C will be:

    A) 3 : 1 : 1              

    B) 2 : 1 : 1

    C) 2 : 2 : 1              

    D) None of these

    Correct Answer: A

    Solution :

    [a] 3 : 1 : 1
    Hint:  A sacrifice = \[\frac{7}{10}\times \frac{1}{7}=\frac{1}{10}\]
    B sacrifice =\[\frac{3}{10}\times \frac{1}{3}=\frac{1}{10}\]
    A's new share = \[\frac{7}{10}-\frac{1}{10}=\frac{7-1}{10}=\frac{6}{10}\]
    B's new share =\[\frac{3}{10}-\frac{1}{10}=\frac{3-1}{10}=\frac{2}{10}\]
    New profit sharing ratio =   6 : 2 : 2
                                                    or 3 : 1 : 1
     


You need to login to perform this action.
You will be redirected in 3 sec spinner