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A and B were partners in a firm sharing ...

A and B were partners in a firm sharing profit or less equally. With effect from 1at April, 2019 they agreed to share profits in the ratio of `4:3` Due to change in profit sharing ratio, B's gain or sacrifice will be :

A

Gain `(4)/(7)`

B

Sacrifice `(1)/(14)`

C

Gain `(4)/(7)`

D

Scarifice `(3)/(7)`

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The correct Answer is:
B
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DK GOEL-CHANGE IN PROFIT SHARING RATIO AMONG THE EXISTING PARTNERS -HOTS
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  2. The excess amount which the firm can get on selling its assets over an...

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  3. Which of the following is NOT true in relation to goodwill?

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  4. When Goodwill is not purchased goodwill account can :

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  5. The goodwill of the firm is NOT affected by:

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  6. Capial employed by a partnership firm is Rs.5,00,000. Its average pro...

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  7. Weighted average method of calculating goodwill is used when:

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  10. Under the capitalisation method the formula for calculating the goodwi...

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  11. The net assets of a firm including fictitious assets of Rs 5,000 are ...

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  12. Total Capial employed in the firm is Rs8,00,000, reasonable rate of re...

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  13. The average capital employed of a firm is Rs 4,00,000 and the normal ...

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  14. A firm earn Rs 1,10,000. The normal rate of return is 10%. The assets...

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  15. Capital invested in a firm is Rs 5,00,000. Normal rte of return is 10%...

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  16. P and Q were partners sharing profits and losses in the ratio of 3:2. ...

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  17. A, B and C partners sharing profits in the ratio of 4:3:2 decided to...

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  18. A, B and C were partners sharing profits and losses in the ratio of 7:...

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  19. P, Q and R were partners in a firm sharing profits in 5:3:2 ratio. The...

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  20. A, B and C are partners in a firm sharing profits in the tatio of 3:4:...

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  21. A, B and C are partner sharing profits in the ratio of 1:2:3. On 1-4-2...

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