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A, B and C are partners sharing profits and losses in the ratio of 5 : 4 : 1. they decided to change their future profit-sharing ratio and agreed upon C acquiring 1/10th share of A and 1/2 share of B.Answer the following questions:i. Calculate C’s gain (a) 7/20 (b) 5/20 (c) 1/20 (d) 4/20ii. Calculate A’s sacrifice (a) 7/20 (b) 5/20 (c) 1/20 (d) 4/20iii. Calculate B’s sacrifice (a) 7/20 (b) 5/20 (c) 1/20 (d) 4/20iv. Calculate New Profit Sharing Ratio (a) 7:4:9 (b) 4:9:7 (c) 4:7:9 (d) 9:4:7 |
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Answer» i. (b) 5/20 ii. (c) 1/20 iii. (d) 4/20 iv. (d) 9:4:7 |
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