In which situation is there no need to compute a new profit sharing ratio among the remaining partners after the retirement or death of a partner?
Situation a - The continuing partners acquire the share of retiring or deceased partners in the old profit sharing ratio.
Situation b - The continuing partners may acquire the share in the profits of the retiring/deceased partner in a proportion other than their old ratio.

Situation (a)

In situation (a), there is no need to compute a new profit sharing ratio among the remaining partners after the retirement or death of a partner. This is because the continuing partners acquire the share of the retiring or deceased partners in the old profit sharing ratio. In the absence of any information regarding a new profit sharing ratio, it is assumed that they will acquire it in the old profit sharing ratio and share future profits in their old ratio.