✦ FREE LEARNING — CLASS 11 & 12 — CBSE · PSEB — ACCOUNTS · ECONOMICS · BST ✦
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Quiz: Admission of Partner - Effects and Adjustments | Tutorstips | Tutorstips
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Quiz
Admission of Partner - Effects and Adjustments
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Question 1 of 5
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What change occurs in the profit sharing ratio upon the admission of a partner?
A
No profit is shared for the first year
B
The new partner receives the entire profit
C
It remains exactly the same for old partners
D
Old partners sacrifice a portion of their profits in favor of the new partner
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