1.

A and B are partners sharing profits and losses in the proportion of 7 : 5 . They agree to admit C, their manager, into partnership who is to get 1/6th share in the profits. He acquires this share as 1/24th from A and 1/8th from B. Calculate new profit-sharing ratio.

Answer»

A and B are PARTNERS sharing profits and LOSSES in the PROPORTION of 7 : 5Explanation:NEW profit-sharing ratio. is 234327



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