'P' and 'Q' are partners, sharing profits in the ratio of 8 : 5 respectively. On 1st April 2016, they admitted R into partnership. The new profit sharing ratio among P, Q and R is fixed as 6 : 4 : 3 respectively. The sacrifice ratio of 'P' will be
A. $$\frac{2}{{13}}$$
B. $$\frac{1}{{13}}$$
C. $$\frac{3}{{13}}$$
D. None of these
Answer: Option A
This Question Belongs to Commerce >> Accounting
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
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