Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

In the absence of any information, it is assumed that the remaining partners acquire the share of profit of the retiring/deceased partner in:

Options:

New Profit Sharing Ratio

Old Profit Sharing Ratio

Equal Ratio

Capital sharing ratio

Correct Answer:

Old Profit Sharing Ratio

Explanation:

The correct answer is Option (2) → Old Profit Sharing Ratio