A and B are partners sharing profits and losses in 3 : 2. They admitted C in the firm. C acquired $${\frac{1}{3}^{{\text{rd}}}}$$ of A's shares and $${\frac{1}{2}^{{\text{nd}}}}$$ of B's share. What is the new profit sharing ratio?

Accounting provides information on

A. Cost and income for managers

B. Company's tax liability for a particular year

C. Financial conditions of an institutions

D. All of the above

The long term assets that have no physical existence but are rights that have value is known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

The assets that can be converted into cash within a short period (i.e. 1 year or less) are known as

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments

Patents, Copyrights and Trademarks are

A. Current assets

B. Fixed assets

C. Intangible assets

D. Investments