Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Reconstitution of Partnership Firm: Retirement and Death

Question:

Sindhu, Neha and Priya are partners, sharing profits in the ratio of 5 : 3 : 2. Calculate the new profit sharing ratio and gaining ratio if Neha retires:

Options:

New profit sharing Ratio of Sindhu and Priya = 1 : 2
Gaining Ratio of Sindhu and Priya = 3 : 2

New profit sharing Ratio of Sindhu and Priya = 3 : 2
Gaining Ratio of Sindhu and Priya = 5 : 2

New profit sharing Ratio of Sindhu and Priya = 5 : 2
Gaining Ratio of Sindhu and Priya = 5 : 2

New profit sharing Ratio of Sindhu and Priya =7 : 2
Gaining Ratio of Sindhu and Priya = 4 : 3

Correct Answer:

New profit sharing Ratio of Sindhu and Priya = 5 : 2
Gaining Ratio of Sindhu and Priya = 5 : 2

Explanation:

The correct answer is Option (3) → 

New profit sharing Ratio of Sindhu and Priya = 5 : 2
Gaining Ratio of Sindhu and Priya = 5 : 2