On admission of a partner, the existing profit-sharing ratio between old partners is called

1. The 'old ratio' refers to the profit-sharing ratio of partners before reconstitution. 2. Sacrificing ratio = Old ratio − New ratio; it shows what the old partners give up. 3. Gaining ratio arises in retirement/death cases. 4. Hence (C) is correct. _Source: Maharashtra Balbharati Std XII Book-Keeping & Accountancy, Ch 3 "Reconstitution of Partnership (Admission of Partner)", §3.1 ¶§3.1_