X and Y share profits in ratio 3:2. Z is admitted with 1/5th share. Sacrificing ratio of X and Y is: MCQ with Answer and Explanation

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X and Y share profits in ratio 3:2. Z is admitted with 1/5th share. Sacrificing ratio of X and Y is:

A. Equal to new ratio

B. 2:3

C. 1:1

D. 3:2

Answer: Option D

Solution (By JKSSB Mock Tests)

If new partner's share is given without specifying sacrifice, old partners sacrifice in their old ratio. So 3:2.

This question belongs to: Accountancy and Statistics Accountancy and Book Keeping

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The basic exemption limit for an individual below 60 years under the new tax regime (AY 2024-25) is:

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Correct Answer: Option B

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