12th Class
Accountancy
Admission of a Partner
Question Bank
MCQs - Reconstitution Of a Partnership Firm : Admission of a Partner
question_answer
X and Y sharing profits in the ratio of 5:3. They admit Z as a new partner. Z brings Rs. 70,000 as cash and 43,000 against his premium for goodwill. New profit sharing ratio between X, Y and Z is 7 : 5 : 4. The Sacrificing ratio of X and Y: