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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
What is sacrifying ratio? How it is calculated?
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Answer

At the time of admission of a new partner, old partners sacrifice some portion of profit in favour of new partner which is known as sacrifice ratio.
  • Sacrifice of old partners = New partner's share x Sacrificing ratio of old partner.

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