Directions: Each of the following questions consists of two statements, one is Assertion (A) and the other is Reason (R).Give answer: |
Assertion (A): Change in profit sharing ratio of the existing partner results in the reconstitution of the partnership firm. |
Reason (R): Change in profit sharing ratio does not change the relationship among existing partners. |
A) Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).
B) Both Assertion (A) and Reason (R) are true but Reason (R) is not the correct explanation of Assertion (A).
C) Assertion (A) is true but Reason (R) is false.
D) Assertion (A) is false but Reason (R) is true.
Correct Answer: C
Solution :
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