Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:
In the event of death of a partner, the accumulated profits and losses are shared by the partners in which ratio?
Options:
Old profit sharing ratio
New profit sharing ratio
Capital Ratio
None of these
Correct Answer:
Old profit sharing ratio
Explanation:
In the event of death of a partner, the accumulated profits and losses are shared by partners in the old ratio.