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ASSERTION (A) : New profit sharing ratio is the ratio in which the old partner including the new partner share profits or losses of the firm REASON (R) : When new partner is admitted to the firm it is necessary to calculate the new profit sharing ratio with help of the share agreed to forgo by the old partners. (a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A) (b) Both Assertion (A) and the reason (R) are true, but the reason (R ) is not the correct explanation of Assertion (A) (c) Assertion (A) is true, but Reason ( R) is false (d) Assertion (A) is false, but Reason (R) is True |
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Answer» (d) Assertion (A) is false, but Reason (R) is True |
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