what are the main objectives behind admission of a new partner
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Change in the relationship between the partners. Account opened for revaluation of assets and liability. Excess of average profit over normal profit. Ratio which is surrendered by old partners in favour of new partner.
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main objective of admission of a partner are:
ascertain of New profit.
calculation of sacrificing ratio
treatment of Goodwill
adjustment of capital
distribution in reserve and profit
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