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H, P and S were partners in a firm sharing profits in the ratio of 4 : 3 : 3. On August 1, 2017, P died. His 20 % share was acquired by H and remaining by S. Calculate the new profit sharing ratio.

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Meaning of partnership term
Partnership is the legal relation between two or more persons who have agreed to share profits and losses of the business carried on by all or any of them acting for all.

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