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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:
Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.
Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.
- a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
- b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).
- c)Assertion (A) is true, but Reason (R) is false .
- d)Assertion (A) is false, but Reason (R) is true.
Correct answer is option 'B'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A)...
It is the right of a new partner on the firm’s assets and liabilities on behalf of capital which is brought by him/her, as he/ she brings the required amount of capital and goodwill.
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Directions : In the following questions, a statement of Assertion (A)...
Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.
Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.
Explanation:
- The assertion states that the new partner has a right to the firm's assets and liabilities. This means that when a new partner joins a firm, they are entitled to a share in the firm's resources and obligations.
- The reason provided is that the old partners sacrifice some profit in favor of the incoming partners according to the new profit sharing ratio.
- When a new partner joins a firm, the existing profit sharing ratio may change to accommodate the new partner's share. This means that the old partners may have to give up a portion of their profits to the incoming partner.
- This adjustment in the profit sharing ratio is done to ensure that the new partner receives a fair share of the firm's profits and losses.
- The reason given explains why it is the right of a new partner to have a share in the firm's assets and liabilities. The existing partners make a sacrifice by adjusting the profit sharing ratio in favor of the incoming partner.
Conclusion:
- Both the assertion and reason are true.
- The reason provided is the correct explanation for the assertion.
- Therefore, the correct answer is option (A): Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.
Explanation:
- The assertion states that the new partner has a right to the firm's assets and liabilities. This means that when a new partner joins a firm, they are entitled to a share in the firm's resources and obligations.
- The reason provided is that the old partners sacrifice some profit in favor of the incoming partners according to the new profit sharing ratio.
- When a new partner joins a firm, the existing profit sharing ratio may change to accommodate the new partner's share. This means that the old partners may have to give up a portion of their profits to the incoming partner.
- This adjustment in the profit sharing ratio is done to ensure that the new partner receives a fair share of the firm's profits and losses.
- The reason given explains why it is the right of a new partner to have a share in the firm's assets and liabilities. The existing partners make a sacrifice by adjusting the profit sharing ratio in favor of the incoming partner.
Conclusion:
- Both the assertion and reason are true.
- The reason provided is the correct explanation for the assertion.
- Therefore, the correct answer is option (A): Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?.
Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?.
Solutions for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer?, a detailed solution for Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? has been provided alongside types of Directions : In the following questions, a statement of Assertion (A) is followed by a statement of Reason (R). Mark the correct choice as:Assertion (A): It is the right of a new partner on the firm’s assets and liabilities.Reason (R): Old Partners of the firm sacrifice some profit according to the new profit sharing ratio in favour of incoming partners.a)Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A).b)Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A).c)Assertion (A) is true, but Reason (R) is false .d)Assertion (A) is false, but Reason (R) is true.Correct answer is option 'B'. Can you explain this answer? theory, EduRev gives you an
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