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Issue for Consideration Other Than Cash

Write the ter...

Question

Write the term / word / phrase which can substitute each of the following statement :

The proportion in which the continuing partners benefit due to retirement of partner.

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Solution

Gaining Ratio

Explanation: The proportion in which the continuing partners benefit due to retirement of a partner is called gaining ratio. It is calculated on the retirement or death of a partner for adjusting the retiring/deceased partner’s share of goodwill.

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Issue for Consideration Other Than Cash

Standard XII Accountancy

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