Home › Bihar Board Class 12 (Commerce) › Accountancy › Reconstitution of a Partnership Firm › If nothing is stated, continuing partners acquir…
If nothing is stated, continuing partners acquire a retiree's share in what ratio?
AEqual shares each
BOld profit sharing ratio
CRatio of their capitals
DReverse of the old ratio
Answer & Solution
Correct answer: B. Old profit sharing ratio
In the absence of any information it is assumed they acquire it in their old profit sharing ratio.
Related questions
A, B, C share 5:3:2 and C retires. A and B continue in the old ratio. What is their gaininThe new profit sharing ratio after retirement is the ratio in which whom share future profAccumulated losses at retirement are debited to all partners' capital accounts in which raRetiree's adjusted capital is Rs 60,000 but he is paid Rs 72,000. Hidden goodwill?A retiring partner is paid a lump sum above his adjusted capital. The excess is treated asOn retirement, the goodwill share of the outgoing partner is borne by whom?Annual profit is Rs 1,20,000. A 1/4 partner dies after 3 months. His profit share?The sum due to a retiring partner may include his share of profit up to what date?