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Meaning of Retirement

A,B and C are...

Question

A,B and C are three partners sharing profit and loss in the ratio of 3:2:1. B retires from the firm. What is the new profit sharing ratio of the remaining partners?

A

1:3

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B

3:1

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C

2:3

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D

3:2

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Solution

The correct option is B 3:1
new profit sharing ratio =existing ratio-retiring ratio
so, new ratio = 3:1

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