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Byju's Answer
Standard XII
Accountancy
Meaning of Retirement
On retirement...
Question
On retirement /death of a partner new Profit sharing ratio of remaining partner _________.
A
old ratio + gaining ratio.
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B
old ration+ sacrificing ratio.
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C
1/No. of partners.
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D
old ratio - sacrificing ratio.
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Solution
The correct option is
C
old ratio + gaining ratio.
The share of retire partner amongst continuing partner
formula is,
gaining ratio=new ratio-old ratio
then,
new ratio=old ratio+raining ratio
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