Question

M and N are partners in a firm sharing profits and losses in the ratio of 5:3. L is admitted
into the partnership. M sacrifices 1/4 th of his share and N sacrifices 1/3 rd of his share in
favour of L Determine the new profit sharing ratio of the partners.
PV
Sacrificing ratio 5 : 4​

Answer 1

Answer:

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Explanation:

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