Chapter 3 of the NCERT book of class 12 accountancy briefs students about the various points which are to be adjusted in case there is a new partner entering the agreement. In this chapter, it has also been discussed as to why it is important to assure a new profit ratio to the old partners when there is an admission of a new partner.
Sacrificing ratio, its role, use and way of calculation form a vital part of the 3rd chapter of the NCERT class 12 Accountancy Book. The chapter also explains goodwill, factors that affect it, and the various methods of finding its value in a partnership. Detailing of the important topics is followed by some situational questions, which help students understand the partnership intricacies better.
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