Question

12. At the time of admission if profit 1 point sharing ratio among the old partners does not change then sacrifice ratio will be O Equal O Their old profit sharing ratio o O According to the contribution of capital O According to new partner
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Answer 1

Answer:

Without any admission or retirement of the partner, sometimes the partners may decide to change their existing profit sharing ratio. This may result in the gain to a few partners and loss to others. The partners who are in profit due to this change should compensate the sacrificing partner/partners in the profit sharing ratio.