Welcome to the NCERT Solutions for Class 12 Accountancy - Chapter Reconstitution of a Partnership Firm - Admission of a Partner. This page offers a step-by-step solution to the specific question from Exercise 1, Question 2: . With detailed answers and explanations for each chapter, students can strengthen their understanding and prepare confidently for exams. Ideal for CBSE and other board students, this resource will simplify your study experience.
Why it is necessary to ascertain new profit sharing ratio even for old partners when a new partner is admitted?
When new partner/s is/are admitted, then the old partners in the partnership firm need to sacrifice their share of profit in favour of new partner/s. This reduces the share of old partner/s. Hence it is necessary to ascertain new profit sharing ratio even for old partners when a new partner joins the firm.
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Read MoreWelcome to the NCERT Solutions for Class 12 Accountancy - Chapter . This page offers a step-by-step solution to the specific question from Excercise 1 , Question 2: Why it is necessary to ascertain new profit sharing ratio even for old partners when a new partner i....
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