In the absence of any information regarding the acquisition of share in profit of the retiring/deceased partner by the remaining partners, it is assumed that they will acquire his/her share in _____
Answer & explanation
Correct answer: option 1
The correct answer is Option (1) → Old Profit Sharing Ratio
When nothing is said about how the remaining partners take over the retiring or deceased partner’s share, they are taken to acquire it in their old profit sharing ratio, so they go on sharing future profits in the same ratio among themselves.
NCERT (2026-27 edition):
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