X and Y are partners in a firm sharing profits in the ratio of 3 : 1. They admit Z as a partner with new profit sharing ratio of 2 : 1 : 1. The amount of goodwill brought in by new partner will be credited to
A. X and Y equally
B. Only X
C. Only Y
D. None of these
Answer: Option B
This Question Belongs to Commerce >> Accounting
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