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12th Class Accountancy Change in Profit Sharing Ratio Among Existing Partner Question Bank MCQs - Reconstitution Of a Partnership Firm : Change in Profit Sharing Ratio

  • question_answer
    Neha, Nisha and Yamini are partners in a firm sharing profits and losses in the ratio of 5 : 3 : 2. They decided to share future profits and losses in the ratio of 3 :2 :1. Each partner' gain or sacrifice due to change in the ratio will be:

    A) Neha Sacrifice-1/30, Nisha Gain-1/30, Yamini-Nil

    B) Neha Gain-1/30, Nisha-Nil, Yamini Sacrifice-1/30

    C) Neha-Nil, Nisha Sacrifice-1/30, Yamini Gain-1/30

    D) Neha-Nil, Nisha Gain-1/30, Yamini Sacrifice-1/30

    Correct Answer: D

    Solution :

    [d] Neha-Nil, Nisha Gain-1/30, Yamini Sacrifice-1/30
    Hint: Sacrificing (Gaining) Share = Old Share - New Share
    Neha=\[\frac{5}{10}-\frac{3}{6}=\frac{15-15}{30}\] =Nill
    Nisha=\[\frac{3}{10}-\frac{2}{6}=\frac{9-10}{30}=\left( \frac{1}{30} \right)\]
    Yamini=\[\frac{2}{10}-\frac{1}{6}=\frac{6-5}{30}=\frac{1}{30}\] Sacrifice
     


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