Which of the following statements are true regarding admission of a new partner?
A. According to section 25 of the Indian Partnership Act, 1932, a person can be admitted as partner.
B. New Profit-sharing ratio is the ratio in which all partners, including new partners, will share future profits and loses of the firm.
C. New Profit Share = Profit Share Sacrificed - Old Profit Share
D. Sacrificing Ratio = Old Profit Share - New Profit Share
E. The Profit or loss which arises from Revaluation Account will be transferred to partner's capital account
Choose the correct answer from the options given below:
1
B, D and E Only
2
A, B and C Only
3
B, C and D Only
4
C, D and E Only