Question

Which of the following is true?*

(a) An incoming partner acquires his share from all the old partners in their profit sharing ratio

(b) An incoming partner acquires his share from all the old partners in some agreed ratio

(c) An incoming partner acquires his share from one or more of the old partners in some agreed ratio

(d) None of these
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Answer 1

Answer:

C is the correct answer

Explanation:

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Answer 2

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a) An incoming partner acquires his share from all the old partners in their profit sharing ratio.