At the time of admission of a partner new profit-sharing ratio is used for sharing future_______________.
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new sharing ratio is used for sharing future profits and losses
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Answer:
Profit and Loss.
Explanation:
At the time of the admission of a new partner, there is a change in the profit sharing ratio of the old partners also. The new profit sharing ratio is calculated after considering the new partner’s share in profit and the sacrifice made by the old partners. Here, we will discuss various cases to calculate the new profit sharing ratio.
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