SELECT * FROM question_mgmt as q WHERE id=1404 AND status=1 SELECT id,question_no,question,chapter FROM question_mgmt as q WHERE courseId=3 AND subId=11 AND chapterId=136 and ex_no='1' AND status=1 ORDER BY CAST(question_no AS UNSIGNED)

Question:

Why it is necessary to ascertain new profit sharing ratio even for old partners when a new partner is admitted?

Answer:

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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