| When share of new or incoming partner is given without : giving the details of sacrifice made by old or existing partners, then: |
| (i) it is assumed that old partners make sacrifice in their old profit sharing ratio. |
| (ii) there is no change in profit sharing ratio of the old partners. |
A) Only (i) is correct
B) Only (ii) is correct
C) Both (i) and (ii) are correct
D) Both (i) and (ii) are incorrect
Correct Answer: C
Solution :
[c] Both (i) and (ii) are correct
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