Answered step by step
Verified Expert Solution
Question
1 Approved Answer
3 A and V are partners sharing profits in the ratio of 3:2. They admitted S as a new partner for 1/6 share in the
3\ A and V are partners sharing profits in the ratio of 3:2. They admitted S as a new partner for 1/6 share in the future profits of the firm. The new profit sharing ratio of A, V and S is:
a\ 2:1:1
b\ 2:2:1
c\ 3:2:1
d\ 3:1:1
4\ When new partner brings his share of goodwill in Cash, it is distributed amongst the existing(old) partners in their sacrificing ratio.
Select one:
True
False
choose the correct answer
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started