Identify the suitable rule forascertaining sacrifice of oldpartners on admission of anew partner?O a. Old Share - New ShareO b. Old Share - GainO c. New Share – SacrificeO d. New share - Old share

Partnership business includes partners who join hands to share profit and losses in an agreed ratio.…

Identify the suitable rule for ascertaining sacrifice of old partners on admission of a new partner? a. Old Share – New Share | O b. Old Share - Gain O c. New Share – Sacrifice d. New share – Old share -

Identify the suitable rule for ascertaining sacrifice of old partners on admission of a new partner? a. Old Share – New Share | O b. Old Share - Gain O c. New Share – Sacrifice d. New share – Old share -

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Identify the suitable rule for
ascertaining sacrifice of old
partners on admission of a
new partner?
O a. Old Share - New Share
O b. Old Share - Gain
O c. New Share – Sacrifice
O d. New share - Old share

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