Write any two occasions when the profit sharing ratio of the partners changes
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Answer:
change in the profit sharing ratio among the existing partners means it is a reconstitution of the firm without admission, retirement or death of a new partner(s). The sacrifice made or gain received by a partner is calculated by deducting the new share from the old share of a partner
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Explanation:
A change in the profit sharing ratio among the existing partners means it is a reconstitution of the firm without admission, retirement or death of a new partner(s). The sacrifice made or gain received by a partner is calculated by deducting the new share from the old share of a partner.
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