A, B and C are partners sharing profits in the ratio of . If B retires, then the new profit sharing ratio between A and C will be:
- A2:1
- B3:1
- C2:3
- D1:1
Solution & Step-by-step Explanation
The old ratio is .When B retires and no further details are specified, the remaining partners continue to share profits in their relative old ratio.Striking out B's share leaves for A and C.