In the absence of information, the continuing partners take the share of retiring partner in the ___
None of the above
Profit sharing ratio
Gaining Ratio
Sacrificing ratio
In the absence of information, the continuing partners take the share of retiring partner in the profit sharing ratio.
Sharma, Verma and Neetu were partners sharing profits and losses in proportion of 14,18 and 1016. Calculate the new profit sharing ratio between continuing partners if,
(a) Sharma retires, (b) Verma retires, (c) Neetu retires. Also calculate their gaining ratio in each of the above situation.