Which among the following is NOT true for New Profit Sharing Ratio?

The new partner acquires his share from the old partners only according to their respective contribution, no any other way can be possible for profit sharing at any condition

The correct answer is option 3- The new partner acquires his share from the old partners only according to their respective contribution, no any other way can be possible for profit sharing at any condition.

The new partner acquires his share from the old partners only according to their respective contribution, no any other way can be possible for profit sharing at any condition is not true.

When new partner is admitted he acquires his share in profits from the old partners. In other words, on the admission of a new partner, the old partners sacrifice a share of their profit in favour of the new partner. But, what will be the share of new partner and how he will acquire it from the existing partners is decided mutually among the old partners and the new partner. However, if nothing is specified as to how does the new partner acquire his share from the old partners; it may be assumed that he gets it from them in their profit sharing ratio. In any case, on admission of a new partner, the profit sharing ratio among the old partners will change keeping in view their respective contribution to the profit sharing ratio of the incoming partner. Hence, there is a need to ascertain the new profit sharing ratio among all the partners. This depends upon how does the new partner acquires his share from the old partners for which there are many possibilities.