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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
    A and B are partners in a firm sharing profits and losses in the ratio of 2 : 3. C is admitted for l/5th share in the profits of the firm. If C gets it wholly from A, the new profit sharing ratio after C's admission will be:

    A) 1: 3 : 3               

    B) 3 : 1 : 1

    C) 2 : 2 : 1               

    D) 1 : 3 : 1

    Correct Answer: D

    Solution :

    [d] 1 : 3 : 1
    Hint: A's new share =\[\frac{2}{5}-\frac{1}{5}=\frac{2-1}{5}=\frac{1}{5}\]
    B's share = \[\frac{3}{5}\]
    C's share =\[\frac{1}{5}\]
    New profit sharing ratio =1 : 3 : 1


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