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Question
Write a word/term/phrase as a substitute for the following statement:
Old Ratio less New Ratio.
One Word/Term Answer
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Solution
Old Ratio less New Ratio - Sacrifice Ratio
Explanation:
When a new partner is admitted old partners have to sacrifice their share of profit to give the share of profit to a new partner. The ratio in which the old partners sacrifice their share of profit is called as sacrifice ratio.
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