sacrificing ratio is ascertained at the time of
(a)Death of a partner
(b)Retirement of a partner
(c)admission of a partner
(d)none of these
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Answer:
c) Admission of a partner
Explanation:
When a partner is 'admitted' only then sacrificing ratio is used.
Sacrificing ratio is calculated only for the existing partners to check the proportion in which they would sacrifice their share for the new partner.
Note: An incoming partner can acquire the share either by purchasing it from the exiting partner/s or by contributing to the assets of the firm.
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