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easyMCQCUET Accountancy 2025 30 May Shift 12026Accountancy
1 mark

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

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

Solution & Step-by-step Explanation

In the absence of specific agreements or information, the remaining partners acquire the share of the retiring or deceased partner in their existing relative old profit-sharing ratio. Therefore, their gaining ratio and relative profit-sharing proportions remain unchanged.

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

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