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Board Question Paper : March 2018 — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountBoard Question Paper : March 20181 Mark
Question
What is sacrificing ratio? How it is calculated ?
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Answer

When there is a change in the ratio of profit and loss sharing of existing partners. a portion of profit of certain partners is reduced. This reduced share of profit of a partner is known as ‘Sacrifice Ratio.’ Revaluation Account is also known as ‘Profit and Loss Adjustment Account.’

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