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If the new partner's share is given but the sacrificing ratio is not given what basis is generally assumed?

Answer and explanation

Correct answer: Old partners sacrifice in old ratio

In such a case the usual exam rule is that the balance profit is shared in the old ratio. If the question gives another basis follow it.

Related tags

ConceptOld RatioAdmissionNew Profit Sharing RatioReconstitution Admission Of A PartnerAccountancyClass 12 Mcq

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