Define new profit sharing ratio in case of admossion of a partner
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When a new partner is admitted, the partner acquires sharing profit from existing partner. ... Hence, the calculation of new profit sharing ratio becomes necessary. The ratio in which the existing partners agree to sacrifice their share of profits in favour of the incoming partner is called the sacrificing ratio.
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When a new partner is admitted, the partner acquires sharing profit from existing partner. ... Hence, the calculation of new profit sharing ratio becomes necessary. The ratio in which the existing partners agree to sacrifice their share of profits in favour of the incoming partner is called the sacrificing ratio.
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