Q1261
A and B have been in partnership sharing profits in the ratio of 7 : 3. C is admitted as a partner. A surrender 1/7 of his share and B surrenders 1/3 of his share in favour of C. The new profit sharing ratio will be-
A and B have been in partnership sharing profits in the ratio of 7 : 3. C is admitted as a partner. A surrender of his share and B surrenders of his share in favour of C. The new profit sharing ratio will be-
A.
1 : 1 : 3
B.
3 : 1 : 1
AnswerC.
1 : 3 : 1
D.
2 : 1 : 1
Answer: Option B
Solution
Answer: Option B
No explanation is given for this question Let's Discuss on Board