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R and S are partners sharing profits and losses equally. 1/22/2012 12:37:21 PM
R and S are partners sharing profits and losses equally. They admitted Afor 1/3 share in the firm. The new profits sharing ratio will be
(a) 3 : 2 : 1 (b) 1 : 1 : 1 (c) 2 : 2 : 1 (d) Cannot be calculated
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