When a new partner is admitted into the firm the old partner stands to :
A. Gain in profit sharing ratio
B. Lose in profit sharing ratio
C. Not affected at all
D. Only one partner gain other loose
Answer:B
When a new partner is admitted into the firm the old partner stands to :
A. Gain in profit sharing ratio B. Lose in profit sharing ratio C. Not affected at all D. Only one partner gain other loose