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easyMCQCUET Accountancy 2022 20 Aug Shift 22026Accountancy
1 mark

In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the:

  1. A
    Capital Ratio
  2. B
    Equal Ratio
  3. C
    New Profit Sharing Ratio
  4. D
    Old Profit Sharing Ratio

Solution & Step-by-step Explanation

If no specific information is provided, it is assumed that the remaining partners acquire the retiring or deceased partner's share in their existing (old) profit-sharing ratio.

Practice this question

Try it yourself before checking the explanation above.

In the absence of any information regarding the acquisition of share in the profit of retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in the:
A
Capital Ratio
B
Equal Ratio
C
New Profit Sharing Ratio
D
Old Profit Sharing Ratio

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PartnershipRetirement/Death

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