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P1 C5 ADMISSION OF A PARNER — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C5 ADMISSION OF A PARNER1 Mark
Question
In which ratio accumulated reserves and fund be distributed among partners?
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Answer

In old profit-loss ratio and to the old partners accumulated reserves and fund amount is to be distributed at the time of admission of a new partner.

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