Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Admission of a Partner

Question:

Ramesh and Suresh are partners in a firm sharing profits in the ratio of 4 : 3. They admitted Mohan as a new partner. The profit sharing ratio of Ramesh, Suresh and Mohan will be 2 : 3 : 1. Choose the correct option with regards to the gain or sacrifice of old partner-

Options:

Ramesh's sacrifice = 10/42

Ramesh's sacrifice = 7/42

Suresh's sacrifice = 3/42

Suresh's sacrifice = 10/42

Correct Answer:

Ramesh's sacrifice = 10/42

Explanation:

The correct answer is Option (1) → Ramesh's sacrifice = 10/42