Practicing Success
What will be the new share of a remaining partner in the partnership firm after the retirement of a partner? |
Old share - new share Old share + new share Old share + acquired share Old share - acquired share |
Old share + acquired share |
The correct answer is option 3- Old share + acquired share The retirement of a partner leads to increase of share in profits of the remaining partners. The continuing partners may acquire the share of profits of the retiring/deceased partner according to their agreement. Thus, |