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Home Questions HYT38TBGU8
Target Exam

CUET

Subject

Accountancy

Chapter

Admission of a Partner

Question:

The sacrifice of one or more partners be the gain of...........in the partnership firm.

Options:

Only 1 partner

One or more

3 Partners

None of these

Correct Answer:

One or more

Explanation:

The sacrifice by a partner is equal to:
Old Share of Profit of a partner – New Share of profit of a Partner
Gain by a partner is (new- old) share
So, sacrifice is equal to the gain of others.

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