Calculating Remaining Fraction: 1/4 and 1/3 Cake Portions Problem

Let's solve the problem step-by-step:

Step 1: Determine the total amount of cake eaten by adding $\frac{1}{4}$ and $\frac{1}{3}$.

Step 2: Find a common denominator for the fractions. The denominators 4 and 3 have a least common multiple of 12.

Step 3: Convert the fractions to have a denominator of 12:
$\frac{1}{4} = \frac{1 \times 3}{4 \times 3} = \frac{3}{12}$
$\frac{1}{3} = \frac{1 \times 4}{3 \times 4} = \frac{4}{12}$

Step 4: Add the fractions:
$\frac{3}{12} + \frac{4}{12} = \frac{7}{12}$

Step 5: Subtract the total eaten portion from the whole cake (1):
$1 - \frac{7}{12} = \frac{12}{12} - \frac{7}{12} = \frac{5}{12}$

Therefore, the fraction of the cake that is left is $\frac{5}{12}$.