A and B are partners sharing profits in the ratio of 7 : 3. A surrenders 1/7th of his share and B surrenders 1/3rd of his share in favour of C, a new partner. The new profit sharing ratio and sacrificing ratio will be: *
2 points
New Ratio 1 : 3 : 1, Sacrificing Ratio 1 : 1
New Ratio 2 : 2 : 1, Sacrificing Ratio 1 : 1
New Ratio 3 : 1 : 1, Sacrificing Ratio 7 : 3
New Ratio 3 : 1 : 1, Sacrificing Ratio 1 : 1
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option d new ratio 3:1:1 and sacrificing ratio 1:1
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